Cabinet Hears Directly from BTL, PUC, and SSB on Speednet Deal

The proposed BTL/Speednet acquisition moved into the Cabinet room today, as ministers heard directly from key players involved in the controversial deal. Belize Telemedia Limited, the Public Utilities Commission, and the Social Security Board all made presentations at the Sir Edney Cain Building in Belmopan. News Five was outside as those discussions unfolded, and when they ended, we caught up with BTL Chairman Markhelm Lizarraga and CEO Ivan Tesucum. Lizarraga says their presentation focused on answering Cabinet’s questions and clearing up what he describes as misinformation being circulated publicly. Here’s how he explained it.

 

Markhelm Lizarraga, Chairman, BTL

“I think Cabinet has quite a bit of concerns as to the questions, specifically yhe misinformation that has been circulating in the media by certain people and we addressed those. We repeated that we are in a continuing process. The board basically decided that what we have seen so far merited continued due diligence. And we are on that path. We are still a ways to go. We still have to land in our own due diligence. We still have to get concerns from the PUC which we are addressing, about competition through MVNOs and through other means of ensuring the public that their concerns about increasing costs or BTL taking advantage of them are unfounded and there are mechanisms in place that will address those concerns. I think it was just about giving our side of the story as to what we are willing to do. BTL has agreed to a three-year pause on rates and subsequent to that we have agreed that we have to justify any changes in prices. We are hoping and we can even say that part of the consideration is that because of the efficiencies that will eb gained form a market consolidation we would allow for a decrease in rates. For example there will be no more need for interconnection rates between BTL and Smart. But efficiencies will bring savings for consumers, increase dividends for shareholders, improve working conditions and benefits for workers.”

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

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