BTL Withdraws Speednet Acquisition Bid
Belize Telemedia Limited (BTL) has formally withdrawn its proposal to purchase Speednet Communications Limited (the parent company of SMART).
In a letter dated August 24th, BTL Chief Financial Officer Ian Cleverly notified the Public Utilities Commission (PUC) that the company is withdrawing all submissions related to the proposed acquisition, which had been filed with the PUC under a letter dated February 10th, 2026.
“BTL hereby withdraws BTL’s submission’s to the PUC on the proposed acquisition of Speednet Communications Limited. BTL no longer intends to proceed with the acquisition of Speednet Communications Limited. Therefore, the PUC no longer needs to consider those submissions because the proposed acquisition of Speednet Communications is no longer being contemplated.”
Cleverly said BTL pursued the deal in good faith, aiming to strengthen Belize’s telecommunications sector, create efficiencies, and deliver enhanced services to consumers, while engaging constructively with stakeholders and regulators throughout the process. “Unfortunately, BTL will no longer pursue the proposed acquisition as a result of change in circumstances.”