BCCI: PUC Review Is Just a Formality Now
The board vote is done. What’s left is the part of the process that actually determines whether the BTL-Speednet deal is legal: sign-off from the Public Utilities Commission, the regulator tasked with deciding whether the merger serves Belizean consumers or works against them.
President of the Belize Chamber of Commerce and Industry (BCCI) Giacomo Sanchez isn’t optimistic that review will change anything. “Until we see something tangible coming out of the PUC, we won’t be able to make a determination at this point, because we don’t know what they will conclude, and at the end of the day, they need to give the necessary regulatory approval for the transaction to be finalized.”
He made clear he already sees the outcome as settled. “I believe what has occurred is that the transaction is a foregone conclusion, because that vote yesterday essentially tells the public and tells everyone that this deal is going through one way or the other, and from the PUC standpoint it is just a matter of timing as to when they give some sort of indication that it would have been approved.”
When a reporter told Sanchez that the PUC has to approve the deal, he said, “The honest truth is that there may be some legal maneuvering to circumvent that. That is just the reality of how things happen, and I can see that happening.”
The PUC said that it is committed to, “conducting all regulatory matters in accordance with the applicable laws, regulations, and established procedures.”