Fonseca Reserves Judgment on Speednet Buyout
BTL is pitching its proposed buyout of Speednet as a major investment in better connectivity, but the plan is far from settled. The deal has raised concerns about a possible monopoly, the price tag, and whether the public has been properly consulted. Now, as the debate builds, Minister of Education Francis Fonseca says he is taking a wait-and-see approach. He says Cabinet has not yet received an official briefing, and until then, he is holding back from making a final judgment.
Francis Fonseca, Cabinet Minister
“What I know so far is just what has been reported in the media. I expect that at our next cabinet meeting, we will receive a briefing on the matter. So I will reserve my public comments until we have received a briefing on the matter. Obviously, there are legitimate concerns and questions that remain. And my expectation is that as a government, we will respond appropriately and respectfully to those concerns and questions that have been raised.”
Reporter
“Is this legal without prior regulator approval?”
Francis Fonseca
“No, as I said, I will wait until we get a briefing. I have no official information except what has been reported. When we get a proper briefing in cabinet, when I’ll be able to respond to those questions. But I will reserve any further public comments until I get proper information in cabinet.”
Reporter
“For the first time in history a supermajority of the independent senators walked out in joint opposition to the Speednet acquisition, what was your reaction or response to this?”
Francis Fonseca
“No, I mean, it’s democracy at work. I think we should all celebrate that. You know, there’s nothing wrong with that. They decided hat they wanted to take that action at that time. So, you know, there’s nothing wrong with that. I’m sure they will follow up with explaining why they took that action. So it’s democracy at work and I think all Belizeans should celebrate the fact that we live in a strong democracy, where we have different opinions about serious issues facing our country. So we should respect that and celebrate it.”
BTL directors say the deal will strengthen Belize’s digital infrastructure without new borrowing or additional SSB funding, though the transaction still requires further board review before being finalized.
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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