BELIZE CITY – Prime Minister John Briceño has forcefully countered opposition from the Belize Chamber of Commerce and Industry regarding Belize Telemedia Limited’s proposed acquisition of Speednet. The escalating debate centers on the valuation methodology and strategic benefits of the telecommunications merger.
Briceño characterized the Chamber’s position as deliberately overlooking the broader strategic picture, emphasizing that BTL’s primary interest lies in acquiring Speednet’s substantial customer cash flow rather than physical assets. The Prime Minister articulated that market saturation makes customer migration between providers virtually cost-free since both companies offer identical services.
Technical valuation was conducted by Moore Global, an international accounting firm with headquarters in Brazil, which determined the acquisition represents sound financial logic. Briceño highlighted significant infrastructure advantages, particularly the transfer of Speednet’s tower network that would enable BTL to rapidly expand telecommunications coverage into currently underserved regions like Toledo District.
The Prime Minister addressed concerns regarding Social Security Board investments, noting the institution currently receives merely two percent returns on its BTL investments – a rate insufficient to recoup initial capital. Briceño briefly acknowledged his family’s involvement in the matter before redirecting focus to the national development benefits, including accelerated telecom deployment in rural communities where service provision was previously economically unfeasible.