SMART comes out swinging after Cabinet rejects BTL takeover; Signals new fight over contracts, regulation and infrastructure

By Breaking Belize News Staff: Less than 24 hours after Cabinet effectively pulled political support from BTL’s proposed $80 million acquisition of Speednet Communications Limited, operator of SMART, Speednet has issued an unusually aggressive public statement that reads less like a routine corporate update and more like notice that the competitive battle between Belize’s two telecommunications companies is back on.

Speednet says it will remain in the market as an independent competitor and, rather than simply celebrating the collapse of the proposed takeover, has immediately turned its attention to a series of areas where it believes Belize Telemedia Limited must now be forced to compete on a more level playing field.

In its August 14 statement, Speednet disclosed that BTL first approached the company with an offer to purchase it in 2022 and again in mid-2025. According to Speednet, the first acquisition discussions were terminated after public sentiment turned against the deal, while the latest negotiations ultimately produced the proposed $80 million transaction that triggered weeks of national controversy.

Cabinet announced Thursday that it does not support the acquisition, describing the matter as one of national concern and saying it had considered the views of social partners, the media and the wider public. The decision came five days before the August 18 Cabinet meeting at which Government had previously said it would deliberate and announce its position.

Speednet’s response goes significantly further than simply saying the company will continue operating. It is now openly challenging the competitive environment in which BTL and SMART operate and has identified three areas in particular where it expects action: Government telecommunications contracts, enforcement of BTL’s market-dominance obligations, and mandatory infrastructure sharing.

On Government contracts, Speednet says ministries should be required to put telecommunications services out to public tender so that SMART has a fair opportunity to compete. The company pointed to previous court action involving Government contracts and said it remains prepared to use the courts where necessary to enforce what it considers mandatory tendering requirements.

Speednet also highlighted the Public Utilities Commission’s determination that BTL holds market dominance, arguing that the declaration should now result in regulatory measures designed to level the competitive playing field. It specifically raised the possibility of measures such as removing what it describes as unfair surcharges imposed on competitors and said the courts remain available to enforce any regulatory obligations BTL fails to comply with.

The company further says BTL should be required to share telecommunications infrastructure with competitors at cost, with both the PUC and the courts responsible for ensuring compliance and imposing sanctions where necessary.

Those demands give the statement a notably combative tone. Only days ago, BTL was seeking to acquire SMART and combine the country’s two major telecommunications providers. With Cabinet now opposing that transaction, Speednet is making clear that it intends not only to remain independent but to press regulators and Government for changes that could directly affect BTL’s operations and profitability.

Speednet says the public reaction to the proposed acquisition demonstrated strong support for SMART continuing as an alternative provider, citing support from the Chamber of Commerce, unions, the media and civil society. It also praised its employees for remaining loyal and focused during the uncertainty surrounding the proposed takeover.

The company pledged to invest heavily in new technology, systems, equipment and infrastructure and says it intends to continue providing what it describes as the latest telecommunications services at affordable prices.

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