BCCI Reiterates Firm Rejection of BTL Acquisition

The Belize Chamber of Commerce and Industry (BCCI) has reaffirmed its opposition to Belize Telemedia Limited’s proposed acquisition of Speednet, warning that the deal poses serious legal, policy, and economic risks. Following a meeting with BTL, the chamber said its core concerns remain unresolved. BCCI stressed that the transaction could expose consumers and businesses to monopoly risks, undermining service reliability. In a statement released today, BCCI President Giacomo Sanchez stated, “There are clear legislative and regulatory hurdles that must be addressed before any consolidation of this nature can proceed, particularly given Belize’s current lack of modern competition and merger control laws. We also have serious concerns regarding the transparency and validity of the valuation presented. Where public funds and the Social Security Board’s exposure are involved, independent verification is not optional; it is essential. Beyond this, the growing perception of politicization and potential conflicts of interest further underscores the need for a process that is transparent and above reproach.” The Chamber is also calling for a national conversation on the impact on businesses, consumers, competition, service reliability, and pricing in a post-acquisition environment.