Centaur Says it “Brings the Discussions to a Close at This Time” with BTL

In a statement to the public, Centaur Communications Corp. Ltd confirmed pulling out of negotiations to be acquired by Belize Telemedia Limited (BTL). This statement comes after a letter addressed to BTL Chairman Markhelm Lizarraga cited broader external, political, and reputational concerns that emerged during the process, despite maintaining that the proposed deal made clear commercial sense.

In the public statement, the Centaur Group of Companies said discussions with BTL began in 2017 under a previous board and administration and continued through successive engagements.

Centaur stressed that its decision was not driven by valuation or business performance.

“From a commercial and strategic standpoint, Centaur remains confident that the proposed transaction presented clear mutual financial and operational merits,” the company said. However, it added that “broader external considerations” made it necessary to “bring the discussions to a close at this time.”

The company also pointed out its strategic value, pointing to a fibre-optic network running from the Mexican border to Belize City and broadband coverage across more than 90% of Northern Belize’s towns and communities. It said over 90% of its revenue now comes from internet and related services.

“Centaur appreciates the interest expressed by BTL and the professional and constructive engagement that took place during the evaluation process,” it added.