On August 11, 2026, following a hours-long closed-door cabinet session held at the Sir Edney Cain Building in Belmopan to address the controversial proposed Speednet acquisition of Belize Telemedia Limited (BTL), Prime Minister John Briceño spoke briefly to reporters waiting outside the government building, laying out the process the administration is following to reach a final decision on the transaction.
Briceño confirmed that Wednesday’s marathon gathering brought all key stakeholders into the room to present their perspectives to cabinet, starting with leadership from BTL. As the government of Belize is the majority owner of BTL, the prime minister explained that BTL executives were asked to deliver a detailed breakdown of their argument that the merger would deliver benefits to both the company and the country’s taxpayers.
Next, representatives from Belize’s Social Security Board, which holds a seat on BTL’s board of directors, outlined their recent position on the deal. While the board did not formally vote in favor of the acquisition, Briceño noted that Social Security representatives gave approval for BTL members to move forward with the internal approval process, clarifying that the Social Security Board does not hold the authority to make a final binding decision on BTL’s behalf as an outside stakeholder.
Regulators from Belize’s Public Utilities Commission also attended the session to explain how the proposed merger aligns with existing national regulatory legislation. The commission confirmed to cabinet that it has already enacted an emergency price stabilization order that will lock all telecommunications service prices at current levels through December 2028. Briceño emphasized that this price freeze creates a sufficient buffer for the government to develop a permanent, robust regulatory framework for the consolidated telecommunications industry, mirroring the regulatory structures already in place for Belize Electricity Limited and Belize Water Services Limited.
To ensure all sides of the debate are heard before a final vote, Briceño announced that cabinet has invited the National Trade Union Congress of Belize (NTUCB), the country’s leading national labor body, and the Belize Chamber of Commerce and Industry, the top business association, to present their opposing views on Thursday. Both organizations have publicly stated that the merger is not in the best interest of Belize and its taxpayers, and cabinet wants to incorporate these perspectives into the final deliberation.
When pressed on a request from a coalition of non-governmental organizations including the Belize Network of NGOs and the National Emergency Advisory Council (NEAB) to also be included in Thursday’s consultation, Briceño stood by cabinet’s original invitation list. The prime minister explained that the decision to invite only NTUCB and the chamber was based on their roles as the primary representative bodies for Belize’s labor and business communities, the two sectors most directly impacted by the merger. He added that the government respects the coalition’s position but expects the coalition to respect cabinet’s process, noting that the meeting will proceed as scheduled with the invited groups.
Following Thursday’s stakeholder consultation, full cabinet will convene next Tuesday to review all submitted input and make a final informed decision on the proposed acquisition. In a key announcement addressing long-standing conflict of interest concerns, Briceño confirmed that he will recuse himself from all deliberations and the final vote. The prime minister’s brother is a founding member of Speednet, and Briceño stated that it would be improper for him to participate in the decision given this familial tie.
Reporters were only able to secure roughly two minutes of comment from Briceño after waiting eight hours outside the cabinet meeting room, ending the press interaction with the prime minister declining to share any further details on the merger deliberations.