Is “Emotion” Clouding Public Debate on BTL-SMART Deal?

The Belize Business Bureau (BBB) has thrown its support behind Belize Telemedia Limited’s $80 million proposed acquisition of Speednet/SMART. The BBB argues that the deal is critical to the long-term sustainability of the country’s telecom sector.

BBB’s President Arturo Lizarraga said the public debate has been driven too heavily by emotion and not enough by facts. He told News 5, “I think this issue got off to a wrong start for many reasons, but one being that people don’t want to see the facts. They say no because they’re emotionally attached to a group, or they say no because they have their own agenda.”

He added that the BBB has “a responsibility to say the facts as they are and not become emotional.”

Lizarraga defended the reported $80 million purchase price, saying it was supported by independent valuations and subject to due diligence. “Once that is reasonable, then there’s no reason to dispute eighty million,” he said, adding that the price could still be adjusted if the asset value falls short.

He argued that consolidation would strengthen BTL in a mature and highly competitive market, allowing it to recover lost revenue and invest in new areas of the digital economy.

“The digital economy is growing in Belize,” Lizarraga said. “It’s in our national interest to make sure BTL is sustainable… We need to have a robust telecom company, and they’ve invested a lot of money in the infrastructure. They have the trunk.”

Critics have raised concerns about whether Social Security funds would be used to finance the acquisition. Lizarraga rejected that claim, saying, “Social Security will not invest any additional funds in this venture. But their return will increase the earnings per share for the organization. The consolidated organization will increase, and therefore they will have the ability to increase the dividend.”

Despite backing the deal, Lizarraga said stronger regulation would be essential to protect consumers if the deal proceeds.

“While I believe that there is value to the public in knowing the facts, that’s why I say that I think it was handled very poorly because they should have said, ‘Listen, this is what we want. This is what we’re doing. Ask questions,'” he added.