The Belize Business Bureau has expressed conditional support for Belize Telemedia Limited’s proposed acquisition of Speednet, emphasizing that regulatory oversight must be strengthened to protect consumer interests. While acknowledging potential benefits for shareholders, Bureau President Arturo Lizarraga warned that without robust price controls, the merger could create a telecommunications monopoly detrimental to consumers.
Lizarraga highlighted the critical role of Belize’s Public Utilities Commission (PUC) in determining the merger’s approval, noting that the decision ultimately rests with regulatory experts rather than public opinion or business groups. Drawing parallels to previous utility monopolies in butane and electricity, he criticized what he perceived as inconsistent responses from business organizations regarding different monopoly formations.
The Bureau president specifically called for comprehensive legislation to guide price control mechanisms, arguing that mere statutory instruments would be insufficient to prevent potential price gouging. Lizarraga emphasized that while the merger appears financially promising for stakeholders, the government must establish a regulatory framework similar to those governing Belize Electricity Limited (BEL) and other utilities to ensure fair pricing and service quality.
The development comes as the PUC completes its study phase and moves toward a decision regarding the proposed telecommunications consolidation, which would significantly reshape Belize’s digital infrastructure landscape.