The Belize Chamber of Commerce and Industry (BCCI) has escalated its resistance to Belize Telemedia Limited’s proposed acquisition of Speednet, declaring that fundamental concerns regarding legal, policy, and economic implications remain entirely unaddressed. Following a recent high-level meeting with BTL representatives, the chamber concluded that the transaction, as proposed, presents unacceptable risks to the nation’s economic landscape.
In a strongly-worded statement issued on February 6, 2026, BCCI President Giacomo Sanchez articulated multiple grounds for opposition. The chamber emphasized that Belize’s current regulatory framework lacks modern competition and merger control legislation, creating significant legislative hurdles that must be resolved before any market consolidation of this magnitude can be considered.
The valuation methodology presented for the acquisition has come under particular scrutiny, with the BCCI demanding independent verification of the figures, especially given the involvement of public funds and exposure of the Social Security Board. “Where public trust and financial security are concerned, independent validation is not merely advisable—it is absolutely essential,” Sanchez asserted.
Beyond financial transparency, the chamber expressed deepening concerns about perceived politicization of the process and potential conflicts of interest, calling for a completely transparent procedure that is beyond reproach. The BCCI is advocating for a comprehensive national dialogue to examine the acquisition’s potential effects on market competition, service reliability, consumer pricing, and the broader business environment before any further progression of the deal.