Independent Senators Oppose BTL’s Approval of SMART Acquisition
Belize’s four independent senators have issued a joint statement opposing Belize Telemedia Limited’s decision to move forward with its proposed acquisition of Speednet Communications Limited (SMART). The senators argue that significant legal and competition concerns remain unresolved.
Senators Kevin Herrera, Louis Wade, Glenfield Dennison and Janelle Chanona said they remain aligned with the Belize Chamber of Commerce and Industry (BCCI), the National Trade Union Congress of Belize (NTUCB) and the parliamentary Opposition, all of whom have questioned the legality, valuation and competitive implications of the proposed $80 million transaction.
They warned that allowing the acquisition could effectively create a telecommunications monopoly, which they argue would be contrary to Section 42(4) of the Belize Telecommunications Act.
The senators also said the Public Utilities Commission (PUC) must ensure the legally required merger review process is followed, particularly given the proposed change in shareholding and the potential impact on competition.
The group further questioned the timing of the proposed sale, saying any attempt to complete the transaction while legal issues remain unresolved could place its validity in question.
Story was updated 5:46 p.m. 8/4/2026