STAFF at Wave Telecom in Guernsey were told yesterday that their company could be sold. The States of Jersey has agreed that it might put Jersey Telecoms, parent company of Wave, up for sale if the price is right.

It launched a consultation exercise on the move yesterday and told 470 staff across the islands.

Wave managing director Tim Ringsdore moved to ease concerns of staff and customers.

‘In terms of service, it’s business as usual for Wave Telecom,’ he said.

‘Wave is an extremely successful business and this success is one of a number of factors that will make the JT Group attractive to potential buyers.

‘We remain dedicated to growing the business and taking it forward and we will continue to deliver excellent service to all our customers across our full range of products and services.’

The Jersey Telecoms board has said it is prepared to back a sale, provided it is positive for staff and customers. Chairman John Henwood urged that a decision be taken quickly to minimise uncertainty.

JT, which made a £14m. operating profit last year, is one of the few state-owned telecoms companies.

The States sold Guernsey Telecoms to Cable & Wireless in 2002 for £30m. The money went into reserves and Jersey plans to do the same.

Although it is not clear how much would be raised from a sale, the proceeds would be banked in the strategic reserve and invested in a diversified portfolio of equities and gilts.