05/08/2026
BTL BOARD VOTES TO ACQUIRE SPEEDNET
August 5, 2026
BTL issued a press release at 2:00 pm yesterday, following a board meeting in the morning notifying the public of the boards decision:
"At a meeting of BTL's Board of Directors held this morning, the Board approved, with the support of senior management, the proposed purchase of 100% of the issued share capital of Speednet Communications Limited (Speednet), subject to the satisfactory completion of continued due diligence and the negotiation of appropriate representations, warranties and other contractual protections for BTL as the buyer.
Once negotiations advance to the definitive agreement stage, the Share Purchase Agreement will be submitted to the Board for separate review and final approval before ex*****on.
The proposed acquisition represents a strategic investment in Belize's digital future. It is intended to reduce unnecessary duplication of telecommunications infrastructure, strengthen network reliability, accelerate digital inclusion, and redirect resources toward technology modernization and connectivity for underserved and unserved communities.
Importantly, the transaction will not require borrowing by BTL and will not require additional investment from the Social Security Board. The investment is to be repaid from Speednet's own operating cash flows. Based on current projections, the investment of $80 million has an estimated payback period of approximately 4.2 years on a discounted basis.
The proposed acquisition is expected to deliver several important benefits to Belize, including expanded rural connectivity, improved service reliability, greater efficiency and sustainable value, consumer protection, employment and skills development, as well as stronger shareholder returns.
BTL remains committed to constructive engagement with the Government of Belize, the Public Utilities Commission and other stakeholders to ensure that the proposed transaction is implemented transparently, responsibly and in the best interests of consumers, employees, shareholders and citizens of Belize."
