Former CEO says BTL Unlikely to Justify $80M Dollar Acquisition

The debate over BTL’s planned eighty‑million‑dollar purchase of Speednet just took a new turn because for many Belizeans, this isn’t only about telecoms. It’s more about trust. When the country’s largest phone company, one that’s majority government‑owned and backed by Social Security funds, moves to spend that kind of money, people want straight answers. And right now, they’re not convinced they’re getting them. Across social media and in public forums, Belizeans are asking a simple question: Is Speednet really worth eighty million dollars? And if it is, where’s the financial breakdown that proves it? Those questions landed squarely on the table at a Civic Fellowship Academy panel on Wednesday. Former BTL CEO Anwar Barrow didn’t sugarcoat his response. He suggested the public shouldn’t hold its breath for a detailed financial justification, at least not one that makes its way into the light. So tonight, the conversation shifts. This is about transparency, accountability, and who gets to see the math behind one of the biggest telecom deals in Belize’s recent history.

 

Anwar Barrow, Former Chief Executive Officer, BTL

“I don’t see legal mechanism for that, Their many be justification that happens to shareholders, and when I say shareholders, if you go that route and say that I am a taxpayer by way of the government owning shares so I want the government to disclose the financials, That’s an argument but it’s a little but indirect fir it to be disclosed to the government. If this transaction goes through and BTL doesn’t make the kind of money that they’re expecting to make from the acquisition, I don’t necessarily know that the government will have to step in and bail them out of there’s some automatic hook like that. So it’s not a financial question, what the question really is, is around will the market be better off for it? The board of directors make a decision, but I think the question from the public is more along the lines of what’s applicable here is will this be better for me? I’m gonna have less choices because obviously right now I only have two choices and then I’ll only have one. Is that going to affect my service? I think in terms of the call for  we want to see financials, I’m not sure how you place that or there’s no direct way to place that is what I’m trying to say.”