By Belize Live News Staff: The proposed acquisition of Speednet has taken a new turn as the Minister of Public Utilities clarified that it was the Prime Minister who placed the process on pause, despite earlier indications that Belize Telemedia Limited (BTL) was driving the transaction forward.
The clarification comes amid growing public discussion over the deal, particularly regarding its financial structure and potential exposure of public funds.
The Belize Chamber of Commerce and Industry (BCCI) has welcomed the decision to pause the acquisition. In a release issued this week, the Chamber urged greater oversight and transparency in the process.
“The BCCI urges the PUC to advocate for, and the GOB to effect, all necessary legislative amendments to safeguard the integrity of the decision-making process,” the statement read.
The Chamber also emphasized the need for independent review of the financial framework surrounding the proposed transaction.
“The Chamber also reiterates that the valuation methodology and financial implications of the proposed transaction—especially where public funds and the Social Security Board’s exposure are involved—require independent verification and full public scrutiny.”
The pause is expected to allow regulators and stakeholders additional time to assess the legal, financial, and governance implications of the acquisition.
