A controversial $80 million acquisition proposal by Belize Telemedia Limited (BTL) to purchase local telecommunications competitor SpeedNet (SMART) has sparked growing political and public pushback across Belize, after a senior cabinet minister publicly questioned the transparency of the deal and emphasized public ownership of the telecommunications firm.
Julius Espat, a member of Belize’s Cabinet, revealed in an exclusive interview with local outlet News Five that he and other senior government officials received no advance notice that BTL’s board would schedule a vote on the acquisition this week. The announcement of the board’s approval caught many in government off guard, amplifying concerns that the transaction has been advanced without required buy-in from all relevant stakeholders.
When asked to share his perspective on the proposed merger, Espat made clear that he doubts the entity he says is the true owner of BTL—the Belizean public—was ever properly consulted on the transformative industry deal. In sharp, direct comments, he rejected the idea that BTL is solely the property of its current board of directors or the national government, stressing that the telecommunications giant is owned collectively by the people of Belize.
Espat’s public criticism is the latest addition to a week of mounting opposition to the acquisition. Already, labor union leaders have staged walkout protests to decry the absence of meaningful public input on the deal, while the Belize Chamber of Commerce and Industry has issued a formal statement criticizing the transaction as a pre-determined outcome that was rushed through before necessary regulatory safeguards could be put in place.
Not all government officials have publicly shared their positions on the proposal, however. Minister of Education Francis Fonseca noted that he will hold off on making any public statement until the full Cabinet receives an official, comprehensive briefing on the details of the acquisition. Notably, the weekly agenda for this week’s Cabinet meeting did not include any mention of the $80 million BTL proposal, leaving the timeline for full government review still unclear.