Independent Senators Call for BTL Deal Pause

Independent Senators have now joined calls for a pause on BTL’s planned acquisition of commercial interests. In a joint statement, they warn the move could pave the way for a telecommunications monopoly and are demanding full disclosure before any decisions move forward, including independent valuations and clear justification for the deal. The group, made up of the Business, Church, NGO, and Union Senators, says it aligns itself with concerns raised by both the National Trade Union Congress of Belize and the Belize Chamber of Commerce and Industry. On Thursday, the Chamber told reporters that comprehensive legislation must come first, before any further discussions on the proposed acquisition. While not ruling out the transaction altogether, BCCI insists strong safeguards are needed to prevent any future flipping of BTL.

 

Giacomo Sanchez, President, Belize Chamber of Commerce and Industry

“Let’s say there is a properly evaluation of what is being sold, versus what is being acquired, and the assets within themselves seem to be in a retrograde position, from that vantage point we say yes, we are also crawling backward. But if it is that it is a suitable asset we are acquiring then I can see there is viability in that. We are not opposing the transaction overall just within the current structure as we understand it, there needs to be sufficient guardrails to ensure that the flipping of BTL in whatever fashion that it exists, keeps from recurring in the future.”