BELIZE CITY – A major corporate acquisition faces mounting opposition as Belize Telemedia Limited (BTL) moves toward a decisive vote on its proposed takeover of Speednet. With the board reportedly preparing to decide as early as Tuesday, January 27th, 2026, the Belize Chamber of Commerce and Industry (BCCI) has issued a formal demand for government intervention.
The Chamber’s strongly-worded statement calls on the government, which holds controlling interest in BTL, to halt any binding decisions until comprehensive stakeholder consultations occur. BCCI representatives have secured a meeting with BTL management scheduled for Wednesday, but express deep concern that a board vote preceding this dialogue would render their engagement merely ceremonial.
BCCI President Giacomo Sanchez conveyed the business community’s apprehension in exclusive comments to News Five, stating that reports of provisional approval being advanced without proper discourse remain deeply troubling. Sanchez emphasized that transactions of this magnitude, carrying significant implications for market competition, public expenditure, and consumer welfare, demand absolute transparency and inclusive decision-making processes.
The escalating controversy highlights fundamental questions about corporate governance and public accountability. Sanchez warned that proceeding without genuine consultation risks eroding public trust and established governance standards, potentially setting concerning precedents for future state-involved business transactions.