Speednet Breaks Silence After BTL Deal Collapses, Takes Aim at Regulatory Environment

Speednet Communications Limited has broken its silence following Cabinet’s decision not to support Belize Telemedia Limited’s proposed acquisition.  In a press release issued today, Speednet confirmed that BTL first approached the company with an offer to purchase it in 2022 and again in mid-2025. According to Speednet, the first round of discussions was terminated by BTL following an assessment of public sentiment. While Speednet welcomed the outcome, the company used today’s statement to level strong criticism at the regulatory environment in which it has operated. Speednet alleges that BTL has maintained market dominance for twenty-five years and claims that, particularly since Government acquired ownership of BTL in 2009, regulatory practices have favoured BTL and placed Speednet at a competitive disadvantage. Among the issues highlighted is the requirement for government ministries to publicly tender telecommunications contracts, which Speednet says would provide it with greater opportunities to compete for government business. The company also pointed to the Public Utilities Commission’s regulatory treatment of BTL as a dominant market operator. Speednet argues that enforcement of PUC decisions should result in measures aimed at creating a more level competitive environment, including the possible removal of what it describes as unfair surcharges imposed on competitors. It further says infrastructure-sharing requirements should allow competitors access to telecommunications infrastructure at cost, subject to regulatory and judicial enforcement. Looking ahead, Speednet says it intends to invest heavily in new technology, equipment, systems and infrastructure as it positions itself to remain a major competitor in Belize’s telecommunications market. The company says its objective is to continue providing modern telecommunications services at affordable prices.