By Aaron Humes: In a surprising turn of events, the Centaur Group of Companies has announced that it has officially withdrawn from negotiations with Belize Telemedia Limited (BTL) over a proposed acquisition. In a letter addressed to BTL Chairman Markhelm Lizarraga on Sunday evening, Centaur cited “broader external and political considerations” as the primary reasons for their decision, rather than any issues related to business valuation or strategic fit.
The communication praised the constructive engagement between the two parties but ultimately highlighted that the ongoing situation posed “disproportionate personal and reputational burdens” that were deemed untenable by Centaur.
The news comes on the heels of BTL’s recent announcement regarding its intended acquisition of Speednet Communications Limited, as well as Centaur, Central TV and Internet/NexGen and Southern Cable Network. The acquisition, totally valued at BZ$175 million, will involve in the case of Speednet, a combination of cash and loan notes and is expected to substantially increase BTL’s revenue generation capabilities.
In a statement, the office of Lord Michael Ashcroft, whose Waterloo Group Charitable Trust owns 77.5 percent of Speednet, has publicly distanced itself from any economic interests related to the deal, yet emphasized that the sale would withstand full scrutiny and would not be conditional on other transactions, such as the purchase of the cable companies. He noted that the consolidation of BTL and Speednet would streamline operations and reduce costs across various corporate functions.
The proposed merger, Lord Ashcroft explains, is expected to lead to significant savings and technological advancements, positioning BTL to face rising competition, including emerging players like Starlink. As consumers are expected to experience no disruption in services, BTL anticipates that reduced operating costs will contribute to lower prices for customers.
However, Centaur’s exit from the talks casts further uncertainty over potential investments in the sector, raising concerns about the impact on both companies and the broader market.
As developments continue, stakeholders in all four companies await further clarity on the implications of this decision.
The post Centaur Group exits acquisition talks with BTL, citing political concerns; Lord Ashcroft talks up sale of Speednet appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes: In a surprising turn of events, the Centaur Group of Companies has announced that it has officially withdrawn from negotiations with Belize Telemedia Limited (BTL) over a proposed acquisition. In a letter addressed to BTL Chairman Markhelm Lizarraga on Sunday evening, Centaur cited “broader external and political considerations” as the primary reasons
The post Centaur Group exits acquisition talks with BTL, citing political concerns; Lord Ashcroft talks up sale of Speednet appeared first on Belize News and Opinion on www.breakingbelizenews.com.
