By Aaron Humes: The United Democratic Party (UDP) has publicly expressed its strong opposition to the proposed acquisition of Speednet (SMART) by Belize Telemedia Limited (BTL), emphasizing that the move raises significant concerns that could adversely affect the telecommunications sector and the general public.
The UDP outlined five “grave and unresolved concerns” with the proposed acquisition, including: 1) the risk of re-establishing a telecommunications monopoly; 2) the absence of meaningful stakeholder consultation; 3) the lack of an independent and transparent valuation; 4) unresolved regulatory and competition issues; and 5) questions surrounding good governance and conflicts of interest.
Furthermore, the party stated, “Telecommunications is a critical national utility. Any decision that would fundamentally reshape this sector must be guided by transparency, due process, and the public interest—not speed, expediency, or the financial benefit of private business interests.”
In light of these concerns, the UDP has urged BTL’s Board to immediately halt any binding decisions regarding the acquisition. The party also called for full compliance with all legal and regulatory requirements, emphasizing the importance of a thorough review and approval by the Public Utilities Commission. Additionally, the UDP is advocating for an independent third-party valuation and competition impact assessment to be conducted and publicly shared to ensure transparency in the process, and meaningful national consultation with social partners, the business community, workers, and the wider public.
“The United Democratic Party emphasize that any attempt to rush or finalize this acquisition in the face of widespread national opposition will further damage public trust and expose the process to serious legal and institutional challenges. We stand in defense of fair competition, transparent and accountable governance, and responsible stewardship of public assets,” warned the UDP.
The party is urging both the BTL Board and the Government of Belize to pause and engage in a transparent dialogue to address the growing concerns surrounding the proposed acquisition.
The post UDP opposes proposed acquisition of Speednet by BTL, citing unresolved public concerns appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes: The United Democratic Party (UDP) has publicly expressed its strong opposition to the proposed acquisition of Speednet (SMART) by Belize Telemedia Limited (BTL), emphasizing that the move raises significant concerns that could adversely affect the telecommunications sector and the general public. The UDP outlined five “grave and unresolved concerns” with the proposed
The post UDP opposes proposed acquisition of Speednet by BTL, citing unresolved public concerns appeared first on Belize News and Opinion on www.breakingbelizenews.com.
