The National Trade Union Congress of Belize (NTUCB) has issued a formal demand for the immediate suspension of Belize Telemedia Limited’s proposed acquisition of Speednet Communications, operating as SMART. This development follows organized protests by opposition politicians and labor unions outside BTL’s Belize City headquarters this week, signaling growing resistance to the telecommunications consolidation.
The NTUCB’s January 26th position statement frames the proposed transaction as a matter of significant public interest rather than merely a commercial arrangement. The labor organization has raised multiple substantive concerns regarding valuation methodology, competitive impacts, employment consequences, and corporate governance standards.
Valuation integrity represents a primary concern, with the NTUCB asserting that the current assessment lacks proper independence. According to their analysis, the evaluating firm maintains established ties to BTL and received compensation from the acquiring entity, potentially compromising objective assessment. The Congress consequently demands a new valuation conducted by an accredited independent technical entity that would comprehensively evaluate assets, financial performance, and customer base value.
Competition considerations form another critical aspect of the opposition. The NTUCB references Section 42 of Belize’s Telecommunications Act, which expressly prohibits arrangements that substantially reduce market competition. The organization warns that merging the dominant industry incumbent with its largest competitor risks creating a telecommunications monopoly that would undermine market discipline and regulatory effectiveness once alternative providers disappear from the marketplace.
Regarding employment impacts, the NTUCB anticipates potential job losses at both organizations and expresses concern about jeopardizing redundancy services essential for business continuity. Notably, no independent socio-economic impact study has been made publicly available to assess effects on workers, consumers, or broader national interests.
The labor body further questions corporate governance standards at BTL, suggesting the board permitted a conflicted valuation process to advance without adequate independent scrutiny. The NTUCB has called for the chairman’s recusal from acquisition proceedings and demanded enhanced fiduciary oversight mechanisms.
Significantly, the NTUCB highlights public stewardship implications, noting that worker contributions held through the Social Security Board are invested in BTL. This connection raises concerns about exposing public funds to undue risk through the proposed transaction.
As immediate remedial measures, the organization demands suspension of the acquisition pending prior written approval from the Public Utilities Commission—a step they assert is legally mandated. Additionally, the NTUCB advocates for national consultations and legislative reviews to strengthen worker protections, consumer safeguards, corporate stability, and constitutional freedoms within a consolidated telecommunications environment.
The Congress has committed to continued engagement with social partners and pursuit of lawful avenues to challenge the transaction in its current form, noting that the Telecommunications Act provides mechanisms for the public to seek court orders preventing unlawful mergers and compelling regulatory compliance.
This stance aligns with political opposition recently voiced by the United Democratic Party. Opposition Leader Tracy Panton has previously raised transparency, financing, and accountability concerns, particularly given BTL’s status as a public institution. Earlier this week, UDP representatives joined union members in protests outside BTL’s headquarters, demanding full disclosure and enhanced safeguards before any transaction proceeds.