BELIZE CITY – Prime Minister John Briceño has articulated a clear division of responsibilities regarding Belize Telemedia Limited’s controversial bid to acquire SpeedNet. In statements made to News 5 on January 15, 2026, the Prime Minister emphasized that while the government-owned telecom giant must be free to pursue its commercial interests, the state’s duty is to safeguard consumer protections.
The proposed consolidation has ignited significant opposition from various sectors of Belizean society. Addressing this criticism, PM Briceño clarified the governance structure, noting that BTL is owned by both the government and the Social Security Board. He stressed that the company’s board members bear a fiduciary responsibility to act in BTL’s best commercial interests, independent of political pressure. ‘They need to do what they believe is in their best interest… If they believe the decision BTL is making is a good one, they should support it. If it’s a bad one, they should say no,’ Briceño stated.
To mitigate concerns over potential market monopolization and consumer impact, the government is preparing proactive regulatory measures. Briceño identified the Public Utilities Commission (PUC) as the central body for oversight. A Statutory Instrument (SI) is being drafted to freeze all telecommunications rates for a twelve-month period, effectively pausing any changes pending the development of a robust regulatory framework for the newly consolidated market. ‘An SI is simply just to put things on hold, on pause, nothing will happen, until you know how best to be able to regulate the industry,’ the Prime Minister explained.
Briceño defended the acquisition as part of a normal global business trend, drawing parallels to frequent corporate consolidations in markets like the United States. He asserted that such mergers are manageable under effective regulation. BTL has already initiated stakeholder consultations with key national bodies, including the Belize Chamber of Commerce and Industry and the Business Bureau, with a comprehensive briefing scheduled for the Cabinet in the coming week.