NTUCB Members Reject BTL–Speednet Deal

Meanwhile tonight, another strong voice is stepping forward in the debate over the proposed BTL–Speednet acquisition. The National Trade Union Congress of Belize is now officially opposing the deal, backed by a clear mandate from its membership. After meeting with its affiliates, the NTUCB says a majority voted no to the acquisition, strengthening the union’s public stance. With that vote in hand, the Congress is calling for an immediate pause, warning that moving ahead without proper regulatory approval and an independent valuation could put Belize’s entire telecommunications sector at serious risk. President Ella Waight says the union’s position follows consultations with BTL and other key stakeholders, but tonight, the message is firm: the deal should not move forward, not yet.

 

Ella Waight, President, NTUCB

“Members were allowed to ask questions and give their concerns and in the end we voted. We did have quorum. We had more than enough for quorum at that meeting and that is why  we were able to vote and come up with a decision of no. And of course, the no was based on all the information gathered concerning social security, the risk of our dividends at Social Security Board where we have thirty-three percent ownership at BTL, how the monopoly and acquisition would affect customers of BTL and Smart, taxpayers and workers of Belize. And, even the media, we are partners with the media. The possibility of a monopoly can provide risks for the free media. Again, taxpayers money, an eighty-million-dollar price tag is not easy to swallow. So, we knew that there were still questions left we needed answers for. We were not confident about the information we were provided. The lack of information. So all of that encompasses the result we have of a no, a very strong no at this time for any acquisition. We hope the no vote will stop the train from moving. One of the concerns is the rush. The train is moving too fast. Slow down and provide the opportunity for the public to get the information, for stakeholders to ask more questions. This is a very serious decision. We went from a monopoly to competition to going back to a monopoly. We cannot afford to be playing games with such an important industry.”