PM Instructs Pause on BTL-Smart Acquisition

A pause has been put on discussions over the proposed acquisition of SpeedNet (SMART) by Belize Telemedia Limited (BTL).

Minister of Public Utilities Michel Chebat told the House of Representatives that Prime Minister John Briceño instructed the pause to allow for greater public engagement and to ensure the proper legal process is followed.

“The prime minister has instructed that their be a pause in discussions related to this matter. This pause is intended to allow the parties involved to engage the public in a genuine, open, and cordial way and to ensure that the proper regulatory process is followed,” Chebat isaid.

Chebat explained that any acquisition of this size must first be reviewed by the Public Utilities Commission (PUC), the independent body responsible for regulating the sector. “Formal submission of the proposed acquisition will be made to the PUC if and when the Boards of the Social Security Board and BTL approve the acquisition. The PUC will then consult, examine the pros and cons, and make a determination based on evidence, law, and the public interest.”

Chebat noted that even if the acquisition does not proceed, the PUC has already begun an independent review to determine whether BTL is a dominant player in the market. The regulator is prepared to introduce new rules if necessary to protect consumers.

“Our role is not to preempt or substitute the role of the regulator, but to respect and uphold the integrity of the regulatory framework,” Chebat said. “Issues such as competition, consumer choices, service quality, pricing and long term sector sustainability among other factors must be clearly examined. The people of Belize must be the ultimate beneficiaries,” he said.