In a significant development for Belize’s telecommunications sector, Centaur Communications has formally terminated acquisition negotiations with Belize Telemedia Limited (BTL). The proposed $170 million deal to acquire the Centaur Group of Companies collapsed despite acknowledging potential commercial and strategic advantages.
Centaur’s representative Jaime Briceño communicated the decision to BTL Chairman Markhelm Lizarraga in a formal letter, citing political pressures and reputational concerns as primary factors. Briceño emphasized that financial considerations were not the determining factor, but rather the external political environment and personal toll on stakeholders involved in the protracted negotiations.
The acquisition’s controversial nature stems from BTL’s unique ownership structure, with nearly half of the company being government-owned. This has raised questions about transparency and proper disclosure procedures. Immigration Minister Kareem Musa revealed that the cabinet had not yet been formally briefed on the negotiation details, though he anticipated the matter would be addressed in tomorrow’s cabinet meeting.
Minister Musa acknowledged intense scrutiny from both media and civil society, stating that full public disclosure is essential given the transaction’s magnitude and government involvement. He noted that Prime Minister John Briceño has recused himself from discussions due to family interests in the involved companies, though Minister Musa clarified that the Prime Minister himself holds no direct ownership.
The minister expressed reservations about forming a position on the acquisition, citing insufficient familiarity with technical details and emphasizing the need to consider technological evolution and international competition in any telecommunications sector decisions.