BELIZE CITY – A major telecommunications acquisition hangs in the balance as Belize’s Public Utilities Commission (PUC) confirms it is awaiting a substantially revised application from Belize Telecommunications Limited (BTL) regarding its proposed buyout of Speednet. The regulatory body has broken its silence on the protracted matter, albeit with limited disclosure, citing the ongoing judicial nature of the proceedings.
Initial plans, first submitted in January 2026, envisioned BTL acquiring four separate companies. However, the deal’s scope has contracted dramatically, with three of those original targets having since withdrawn from negotiations. This fundamental shift necessitates that BTL completely restructure its proposal and present a new submission to regulators for the process to continue.
PUC representatives emphasized their legally constrained position during a recent briefing. Stacy Grinage, Internal Legal Counsel for the PUC, stated, ‘This remains a current and active matter before the commission. We are prohibited from public discussion, but I can confirm that what is before the PUC is an agreement for the purchase of shares.’
Sheena Garnett, Communications Affairs Manager, elaborated on the procedural roadmap. She indicated that the PUC’s review process is strictly governed by the Telecommunications Act. Upon receiving the final, updated documentation from BTL, the commission will undertake a thorough examination. This could potentially include mandatory public consultations, depending on regulatory requirements. Garnett clarified the current status, noting, ‘We had received a document and there has been a lot of changes from that initial document. We need to just receive whatever is that final submission from the party.’
The ultimate authority to approve or deny the now-downsized merger rests solely with the PUC, placing the future of Belize’s telecom landscape in its hands. All parties now await BTL’s next move.