The Belize Business Bureau (BBB) has publicly endorsed Belize Telemedia Limited’s proposed $80 million acquisition of Speednet/SMART, characterizing the transaction as vital for the long-term viability of the nation’s telecommunications sector. BBB President Arturo Lizarraga expressed concern that public discourse surrounding the deal has been excessively influenced by emotional responses rather than factual analysis.
In an interview with News 5, Lizarraga stated the debate commenced unfavorably due to stakeholders prioritizing emotional attachments to particular groups or pursuing separate agendas over objective evaluation. He emphasized the BBB’s commitment to presenting factual information without emotional bias.
The $80 million valuation received defense from Lizarraga, who cited independent assessments and thorough due diligence processes. He noted the purchase price remains subject to adjustment should asset valuations prove insufficient, indicating flexibility in the transaction terms.
Lizarraga articulated that market consolidation would fortify BTL’s position within Belize’s mature and competitive telecommunications landscape, enabling revenue recovery and strategic investments in emerging digital economy sectors. He highlighted the growing digital economy as a national priority requiring sustainable telecommunications infrastructure.
Addressing concerns about Social Security fund utilization, Lizarraga explicitly denied such involvement, clarifying that no additional Social Security investments would fund the acquisition. Instead, he projected enhanced earnings per share and increased dividend distributions for the consolidated organization.
Despite his endorsement, Lizarraga acknowledged the necessity for strengthened regulatory frameworks to ensure consumer protection should the acquisition proceed. He criticized the initial handling of public communications, suggesting improved transparency regarding intentions and processes would have facilitated more productive discussion.