Social Partners insist all four groups be included in Cabinet talks on BTL-Smart deal

By Breaking Belize News Staff: Belize’s Social Partners say they are prepared to engage with the Government over the proposed acquisition of Speednet Communications Limited, operator of Smart, by Belize Telemedia Limited (BTL), but are insisting that all four partner organizations be included in the discussions.

In a joint statement issued Tuesday, the Belize Chamber of Commerce and Industry (BCCI), Belize Network of Non-Governmental Organizations (BNN), National Evangelical Association of Belize (NEAB) and National Trade Union Congress of Belize (NTUCB) acknowledged Government’s invitation for the BCCI and NTUCB to meet with Cabinet on Thursday, August 13. However, the organizations said any meeting must include representatives of all four Social Partners because they have been acting collectively on the matter.

The groups also say several requests for information remain outstanding, including financial statements and independent valuation reports. They maintain that they should be given reasonable time to examine the information before participating in discussions with Cabinet.

Government announced Tuesday that the Social Security Board, Public Utilities Commission and BTL were invited to make presentations to Cabinet on the proposed acquisition, while the BCCI and NTUCB were invited to appear on Thursday. Cabinet says it intends to hear from the various stakeholders before deliberating on the matter and announcing its position following its meeting on Tuesday, August 18. (Belize Press Office)

The controversy surrounds BTL’s proposed approximately $80 million acquisition of 100 percent of Speednet’s shares. BTL’s Board gave preliminary approval to the transaction earlier this month, subject to continued due diligence. (Love FM) The Social Partners have publicly opposed the acquisition in its present form, raising concerns about transparency, competition and the public interest. (Belize Chamber of Commerce and Industry)

The Social Partners also welcomed the PUC’s willingness to continue discussions but referred the regulator back to the requests contained in their August 6 statement as the basis for further engagement. They reiterated that their collective actions are intended to protect the public interest.

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