“$80 Million Deserves Answers”: BCWJ Tells BTL to Show Its Math 

A new pressure group has entered the fight over BTL’s proposed $80 million acquisition of Speednet/Smart. The Belize Communications Workers for Justice (BCWJ) is renewing its opposition to the proposed acquisition and has challenged BTL to explain exactly what the $80 million purchase price represents. 

“If BTL can absorb Speednet’s customers onto its existing network, the public deserves a clear explanation of how Speednet’s technology, infrastructure, spectrum, customer base and other assets were valued,” BCWJ said in a Wednesday statement. 

BCWJ is calling for the release of multi-year audited financial information, an independent valuation, a technology and infrastructure assessment, and details on the potential impact of the acquisition on competition, consumers and workers.

The group is also raising questions about BTL’s unresolved obligations to former employees. According to BCWJ, attorneys representing 146 former BTL employees issued a Pre-Action Protocol Letter on August 10 concerning claims for statutory severance and gratuity. The group says those individual claims are now before the appropriate legal process, but argues there is a broader question BTL and key decision-makers must answer before the acquisition proceeds.

“Before BTL commits $80 million to acquire another company, has it fully quantified and provided for its unresolved obligations to former workers?” BCWJ questioned.

The group is calling on BTL, the Social Security Board, the Public Utilities Commission and Cabinet to ensure the transaction is subjected to full scrutiny.

“$80 million deserves answers. Show Belize the evidence,” BCWJ stated.