Chamber of Commerce applauds pause on the proposed acquisition of Smart

The Belize Chamber of Commerce and Industry (BCCI) is welcoming Government’s decision to pause the proposed acquisition of Speednet (SMART) by Belize Telemedia Limited (BTL), saying the move allows for greater transparency and regulatory scrutiny. In a release issued today, the Chamber endorsed the call made in the House of Representatives by the Minister of Public Utilities, who stressed the need for public engagement and proper oversight by the Public Utilities Commission before any decision proceeds.  According to the BCCI, the proposed transaction raises significant legislative and regulatory questions, particularly because Belize currently lacks modern competition and merger-control laws. The organization is urging both the PUC and Government to ensure any necessary legal amendments are addressed before consolidation in the telecommunications sector moves forward.  The Chamber also pointed to concerns surrounding the valuation and financial implications of the deal, noting that independent verification is needed, especially where public funds and exposure from the Social Security Board may be involved.  In its statement, the BCCI emphasized that the issue extends beyond a commercial transaction, warning that the outcome could affect businesses, consumers, service reliability, pricing, and overall confidence in the country’s regulatory framework.  The Chamber says it stands ready to participate in any public consultation process led by the PUC as discussions continue in what remains a nationally debated telecom matter.