UDP Demands Transparency on Rumored Speednet Sale

The rumor mill continues to grind over a possible buyout of Speednet by BTL. On Tuesday, the United Democratic Party fanned the flames of these reports, calling for an open dialogue over the possible acquisition. The opposition also questioned who will benefit from the sale of Speednet.

 

Lee Mark Chang, Area Representative, Mesopotamia

“For months we have been hearing whispers, rumors of a deal. They want to force BTL, our company that is owned by ninety-one percent of Belizean to buy its competitor, Smart, NEXGEN and Centaur. They tell us that it is a good deal for Belize. But if it is such a good deal then why all the secrets. Why not come out and tell us that bway this is a good deal and this is how it will benefit us. No signed agreement, no public report, no price, nothing, nada. Imagine, you know I sell food, I say you know what go buy the food down the street rather than buy from me and then down the road I have to go back and buy the competition. It is the same thing, business. Let us ask ourselves, who really benefit from this deal, is it you, your family, or is it the country? Nope, nada. The ones who benefit are the family owners of smart and other companies acquired in this buyback. They get cashed out risk free, with a massive payday. The will be set not for a lifetime but generations to their family.”