BTL Buyout Already Decided? BCCI Demands Halt

Disapproval is growing over Belize Telemedia Limited’s (BTL) proposed acquisition of Speednet Communications (SMART), as reports indicate BTL’s board is set to vote on the deal Tuesday.

Today, the Belize Chamber of Commerce and Industry (BCCI) issued a release urging the Government of Belize, which is the “controlling shareholder of BTL”, to step in and halt any binding board decision until meaningful consultation with stakeholders has taken place.

According to the Chamber, BTL has agreed to meet with BCCI representatives on Wednesday but warned that any decision taken before that meeting would make the engagement meaningless and show “profound disregard” for the concerns of the business community.

In a statement to News Five, BCCI President Giacomo Sanchez said the organisation remains troubled by reports that early approval may be pursued before proper consultation. “We align with the concerns raised by our social partners and reiterate that decisions of this magnitude — particularly those with implications for competition, public funds, and consumers — must be informed, transparent, inclusive, and not rushed,” his statement read.

Sanchez warned that moving ahead without proper engagement risks undermining public confidence and principles of good governance.

Chamber’s position adds to mounting pressure from unions and civil society groups, who have already voiced strong opposition to the proposed buyout.