During the first sitting of the House of Representatives for the year on Thursday, February 6th, Prime Minister Honourable John Briceño announced that the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL) has been paused. He said that before negotiations continue, the Public Utilities Commission (PUC) must be involved.
The Prime Minister explained that the PUC is expected to halt the process temporarily while it reviews key regulatory concerns. “The PUC is saying we need to do regulations, we need to relook at the issue of whether BTL is a dominant provider, and also to look at whether it makes sense what BTL is proposing with a merger,” he told the media. Briceño did not indicate how long the pause would last, noting it could range from days to weeks or even months.
Minister of Public Utilities Honourable Michel Chebat said that given the high level of public interest and the importance of the telecommunications sector to Belize’s economy, the matter must be handled with caution. “It must be transparent and in accordance with the law,” he said. “The Prime Minister has instructed that there be a pause in discussions related to this matter. This pause is intended to allow the parties involved to further engage the public in a genuine, open, and cordial way, and to ensure that the proper regulatory process is followed.”
Chebat added that any proposed acquisition of this nature must first be reviewed by the PUC, the independent body mandated to regulate the telecommunications sector.
He explained that a formal submission will be made to the PUC if and when the boards of the Social Security Board and BTL approve the acquisition. “This will allow the PUC to consult thoroughly, deliberate on the pros and cons, and make a determination based on evidence, law, and the public interest,” Chebat said.
The development comes weeks after growing criticism from civil society groups, unions, and the Opposition. One of the main concerns raised is an alleged conflict of interest, as the Prime Minister’s family reportedly holds shares in Speednet/SMART and could potentially receive millions of dollars from the acquisition. While the proposed deal has been presented as an upgrade that would benefit Belizeans, critics argue it would primarily benefit the Briceño family and other stakeholders.
With negotiations now on pause, a series of consultations is expected. Reports indicate that the first group to be consulted will be the People’s United Party caucuses. The Northern, Eastern, and Western caucuses have reportedly already been consulted regarding the proposed acquisition.
