PM Briceño Says Cabinet Collectively Rejected BTL-Smart Deal

Prime Minister John Briceño says Cabinet’s rejection of BTL’s proposed acquisition of Speednet Communications was a collective decision and not one he made unilaterally.  Speaking with the media in Belize City this afternoon, Briceño addressed suggestions that he personally stopped the proposed purchase. He said the matter was discussed by Cabinet before a final position was taken.

John Briceño, Prime Minister: “We felt that maybe at this time, and I know people will say “Oh you said at this time.” But simply I believe that cabinet in its wisdom decided that maybe we should not proceed. But I can tell you I did not make the decision on my own.”

Reporter: How do you view that Speednet release in the wake of Cabinet’s decision seeing that others have seen it as a threat ? 

John Briceño, Prime Minister: “I don’t think it was a threat. I think they were if you really look at it they were congratulating the public, you want competition so there will be competition. That’s how I read it, I didn’t see it as a threat. What has happened with all the discussion, and it’s something that the courts have already determined that one that there must be competition, I think it was the opposition that challenged a contract that was given to Speednet and the court ruled that there should be competition so that’s one. Secondly what the PUC was doing in their deliberations and consultations they did what the court had been saying that BTL is a dominant operator and as such they had to do that and to declare that.”

BTL’s Board had approved the proposed acquisition of Smart, which operates under the Speednet brand. However, following public criticism and objections from the unions and other stakeholders, Cabinet announced last week that it did not support the transaction.  With that, the proposed acquisition is no longer moving forward./