By Belize Live News Staff: The United Democratic Party is calling on the Government to disclose every cost tied to the failed $80 million SMART/SpeedNet acquisition by Belize Telemedia Limited.
In a release issued today, the party asked for full disclosure of “all costs associated with the failed transaction, including legal, advisory, valuation, and due diligence fees.”
The demand comes alongside a renewed call for the removal of BTL Chairman Markhelm Lizarraga, which the party says it first made after the BTL Board approved the proposed deal.
“The public deserves full transparency of what was approved, what was spent, and who is responsible,” the statement reads.
The UDP also welcomed Belize’s trade unions joining the call for Lizarraga’s removal.
The party rejects the argument that Cabinet’s decision to turn down the acquisition closes the file. It maintains that the Board’s approval stands as a separate act, and that responsibility extends to the Chairman and to the Government that appointed him.
Costs on transactions of this size are typically incurred well before final approval, through advisory, valuation, and due diligence work commissioned during negotiations. No figures have been made public.
The party describes the matter as one of governance.
