Belize Telemedia Limited (BTL) presented its proposal to acquire SMART/Speednet to the Cabinet on Tuesday, January 20th, during a meeting held in the capital city of Belmopan. The presentation was delivered by BTL Chairman Mark Lizarraga, Chief Executive Officer Ivan Tesucum, and Chief Financial Officer Ian Cleverly. The briefing reportedly lasted more than two hours and concluded without a final decision on the proposal.
Minister of Public Utilities, Energy and Logistics, the Honourable Michel Chebat, told the media that the Cabinet will decide after BTL completes its consultation process with relevant stakeholders. Chebat said the presentation was comprehensive and necessary, noting that the Cabinet had not previously been briefed on the proposal. “Cabinet has not made a position,” Chebat said. “We are waiting for the process to take place, and we understand that consultations are ongoing, and we want to allow that to happen first.”
BTL Chairman Lizarraga said Cabinet members received the presentation well. “It was a very engaging two hours-plus, and we tried to answer every concern that they had,” he said. “We came with the responsibility as BTL directors and executives to explain what we believe would bring efficiency to the market space. Now the policymakers have to decide what the next steps are.”
Lizarraga further explained that maintaining efficiency requires continued large-scale investments, including potential acquisitions such as Speednet. According to him, failure to make such investments could negatively impact other areas of the telecommunication sector and its customers. He emphasized that BTL, as an essential service provider, has a responsibility to ensure that its systems and digital infrastructure remain robust and capable of keeping pace with technological advancements, given the role telecommunications play in the national economy.
“But we can only do this effectively by cutting out needless duplication in the industry, eliminating waste, and using the capacity that already exists,” Lizarraga said. He also reminded the public that BTL is owned by the people of Belize and stated that any benefits arising from the proposed consolidation would ultimately accrue to the public.
The proposed acquisition has generated controversy since it was announced on January 9. The initial proposal included the consolidation of cable companies Centaur Communications and CTI/NEXGEN. However, following public and media scrutiny, both cable companies withdrew from negotiations. As a result, the proposed acquisition now solely involves Speednet.
BTL’s executive team has reportedly held consultations and made presentations to the Social Security Board, the Belize Communications Workers’ Union, and the executive committee of the National Trade Union Congress of Belize as part of its stakeholder engagement process.
 presented its proposal to acquire SMART/Speednet to the Cabinet on Tuesday, January 20th.){kind=link}