BTL defends proposed Speednet acquisition during cabinet session

Belize Telemedia Limited (BTL) is moving forward with a proposed $80 million acquisition of Speednet, a move that has triggered significant debate within the Belizean cabinet and among social partners. During a recent cabinet session, BTL Chairman Mark Lizarraga defended the deal, arguing that market consolidation would eliminate inefficiencies caused by maintaining duplicate infrastructure. To address consumer concerns, BTL has committed to a rate freeze through December 2028.

The acquisition faces scrutiny from various sectors. Media representatives have expressed concerns that a BTL-Speednet merger could create a state-controlled monopoly, potentially threatening press freedom by allowing control over communication networks. Additionally, union leaders and social partners have questioned the transparency of the BTL board's decision-making process and whether sufficient information was provided to directors before the vote.

Prime Minister John Briceño confirmed that the cabinet held a deep-dive session involving BTL, the Public Utilities Commission (PUC), and the Social Security Board to evaluate the merger's impact on taxpayers and the regulatory framework. The deal remains subject to final due diligence and must receive formal approval from the PUC to ensure compliance with competition laws.