By Zoila Palma: The Belize Communications Workers for Justice (BCWJ) is reiterating its opposition to Belize Telemedia Limited’s (BTL) proposed $80 million acquisition of Speednet Communications Limited (SMART).
The BCWJ said Belizeans deserve greater transparency about the transaction before it proceeds, particularly regarding the value of Speednet’s assets, the investment required after the acquisition and the potential impact on competition, consumers and workers.
BCWJ said recent public statements surrounding the proposed acquisition have not adequately addressed its concerns.
“Claims about a rapid payback, available network capacity and the value of Speednet’s assets should be supported by information that Belizeans and the country’s social partners can independently assess,” the organization stated.
It called for the public-interest review to include multi-year audited financial records, an independent valuation and assumptions behind the financial model, as well as a comprehensive assessment of Speednet’s technology, infrastructure and integration requirements.
The organization also questioned how the acquisition could affect competition and consumers if Speednet’s customers and network are integrated into BTL’s existing operations.
“A transaction of this scale should not rest on assurances alone,” BCWJ said, adding that there should be a clear assessment of the impact on competition, service quality and consumer choice.
BCWJ further raised concerns over unresolved obligations to former BTL employees, saying the acquisition should not be considered separately from the company’s record of accountability to its former workers.
The post Belize Communications Workers for Justice reiterates stance on BTL- Smart acquisition; calls on BTL to address unresolved obligations to former workers appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: The Belize Communications Workers for Justice (BCWJ) is reiterating its opposition to Belize Telemedia Limited’s (BTL) proposed $80 million acquisition of Speednet Communications Limited (SMART). The BCWJ said Belizeans deserve greater transparency about the transaction before it proceeds, particularly regarding the value of Speednet’s assets, the investment required after the acquisition and
The post Belize Communications Workers for Justice reiterates stance on BTL- Smart acquisition; calls on BTL to address unresolved obligations to former workers appeared first on Belize News and Opinion on www.breakingbelizenews.com.
