5 Jul 2010

Tuvalu unhappy with internet domain name return

5:41 pm on 5 July 2010

Tuvalu's Finance Minister says the country isn't getting enough money from the US company which bought the dot-tv internet domain off it.

The government sold its internet domain code in the late 1990s when the internet was in its infancy.

The domain is operated by DotTv, a VeriSign company, which pays Tuvalu about two million US dollars a year for use of the name.

Lotoala Metia feels VeriSign should be paying more for use of the name but says the company is playing hardball.

"We are negotiating but we are tied because of the agreement that was signed before us. We cannot negotiate for an increase until 2016. Counter offers have been made but they are not acceptable to the government of the day. So we have to stick to our guns now. They're giving us peanuts."

Tuvalu's Finance Minister, Lotoala Metia