After months of public debate over whether BTL should acquire the company, Speednet says the conversation has now shifted. It is no longer about a possible sale. It is about competition, market dominance, and what comes next for Belize’s telecommunications sector. In a press release issued today, Speednet confirmed that BTL approached the company twice with an offer to buy it, first in 2022 and again in mid-2025. But those discussions did not lead to a deal. Speednet says public sentiment played a major role, with many Belizeans making it clear that they want the company to remain as an alternative telecoms provider. Now, Speednet says it is looking ahead. The company argues that BTL has held a dominant position in the market for twenty-five years. It also claims that since Government took ownership of BTL in 2009, regulatory practices have favored the larger company and placed Speednet at a competitive disadvantage. But Speednet believes Thursday’s Cabinet decision could change the rules of the game. According to the company, BTL will now have to adjust to a new operating environment. That includes fair tendering for government telecoms contracts, meaning ministries would have to open those contracts to public competition instead of awarding them without giving Speednet a fair shot. Speednet is also pointing to the Public Utilities Commission’s determination of BTL’s market dominance. The company says that designation should force BTL to comply with regulatory decisions aimed at leveling the playing field. Speednet believes this could include removing what it describes as unfair surcharges imposed on competitors. Another major issue is infrastructure sharing. Speednet says BTL will be required to share telecoms infrastructure with competitors at cost, while the PUC and the courts would have the authority to enforce compliance and impose sanctions if necessary. Speednet is also thanking the public for standing behind the company during a period of uncertainty. It singled out support from the Chamber of Commerce, unions, the media, and civil society, saying that backing has strengthened its position. And the company says it is not just staying in the market, it plans to grow. Speednet says it will invest heavily in new technology, systems, equipment, and infrastructure to deliver modern telecoms services at affordable prices. So tonight, Speednet is casting this moment as more than the end of an acquisition discussion. It is presenting it as the beginning of a new chapter in Belize’s telecoms industry, one where the company says competition must be fair, access must be equal, and consumers must have real choice.
BTL Shifts Focus from Buyout to Business Growth
BTL is now turning the page after Cabinet rejected its proposed acquisition of SMART/Speednet. In an internal employee bulletin issued today, BTL Chairman Markhelm Lizarraga told staff that the company respects Cabinet’s decision and the process that led to it. He acknowledged that considerable work went into evaluating the proposed transaction, but said that chapter is now closed. BTL’s chairman put it plainly: BTL must now focus on growing the business in other ways. Lizarraga told employees that the Public Utilities Commission’s determination of BTL as a dominant provider has changed the environment in which the company operates. That means more regulatory obligations, greater oversight, and tighter constraints on how BTL competes, invests, and serves customers. But the message was not just about challenges. BTL also framed this moment as an opportunity. The bulletin says the company remains strong, with committed employees, trusted customer relationships, major national infrastructure, and strong technological capabilities. It also points to BTL’s ongoing shift from a traditional telecoms company into a broader technology company. That includes areas such as digital services, cloud, cybersecurity, managed services, enterprise solutions, data, and emerging technologies. Lizarraga told staff that success in this new environment will require stronger execution, sharper focus on customers, better use of company assets, and teamwork across the organization. He also urged employees not to let the current headwinds define what Digi/BTL can become. So, while Speednet is celebrating a new competitive landscape, BTL is now telling its workforce to regroup, refocus, and compete in a market where the rules are changing. The takeaway tonight: the proposed acquisition may be off the table, but the fight for Belize’s telecoms future is far from over.
Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.
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