Chamber of Commerce remains unconvinced of the proposed BTL-SMART acquisition 

The Belize Chamber of Commerce and Industry (BCCI) has reaffirmed its concerns over Belize Telemedia Limited’s proposed acquisition of Speednet/SMART following a recent meeting between the two sides.  In a statement issued this evening, the Chamber said that while discussions were constructive, the information presented did not address its fundamental objections, maintaining that the transaction poses serious policy, legal, and economic risks for the country.  Among the key issues raised are questions about compliance with the Telecommunications Act and the possibility that the merger could significantly reduce competition in the market. The Chamber also stressed the need for stronger regulatory authority for the Public Utilities Commission before any consolidation occurs. The BCCI further expressed concern about the valuation of the deal and the potential exposure of Social Security Board funds, warning that uncertain financial projections and a possible monopoly could affect consumers and businesses alike. According to the Chamber, businesses rely on multiple service providers for reliability and competitive pricing, and losing that option could increase vulnerability to outages and limit service flexibility across the economy. As part of what it calls the way forward, the Chamber is calling for full transparency, an independent valuation, meaningful public consultation, and the enactment of modern competition and merger control laws before any acquisition proceeds.   The Chamber says it remains willing to engage stakeholders as discussions surrounding the proposed telecommunications merger continue.