A coalition of independent senators in Belize has intensified their opposition to Belize Telemedia Limited’s proposed acquisition of Speednet, warning the transaction could permanently damage competition in the nation’s telecommunications sector. Senators Kevin Herrera, Louis Wade, Glenfield Dennison, and Janelle Chanona argue regulatory intervention is occurring too late in the process, despite existing legal provisions designed to prevent monopolistic market dominance.
The senators contend that the Public Utilities Commission (PUC) should have exercised its authority earlier in the approval process rather than waiting until the potential finalization of the deal. Their central argument maintains that regulation should follow competitive market failure rather than precede it through premature approval of consolidation.
Union Senator Glenfield Dennison delivered particularly forceful remarks, challenging the PUC’s regulatory philosophy. “I invite the members of the PUC to shift your lens away from thinking that the answer is regulating a dominant actor in telecoms,” Dennison stated. “The starting point should and must always be that competition and rivalry is what should be driving the telecoms industry.”
Dennison employed colloquial examples familiar to Belizeans, referencing the consumer detriment of “double up” and “triple up” pricing scenarios that emerge without competitive pressure. He emphasized that the PUC’s primary role should be fostering competitive market conditions rather than creating dominant entities that subsequently require intensive regulation.
The senators’ intervention highlights growing concerns that the merger could fundamentally reshape Belize’s telecommunications landscape to the detriment of consumer choice and pricing structures. They maintain that regulatory power should only be exercised after genuine market competition has been exhausted, not as a substitute for competitive safeguards during merger evaluations.
With the deal potentially nearing finalization, the senators are urging immediate PUC action to preserve market competition before what they characterize as irreversible consolidation occurs.