BTL formally withdraws proposed acquisition of Speednet

By Zoila Palma:  Belize Telemedia Limited (BTL) has formally withdrawn its submissions to the Public Utilities Commission (PUC) regarding its proposed acquisition of Speednet Communications Limited.

 he decision was communicated to the PUC in a letter dated August 24, 2026, signed by BTL Chief Financial Officer Ian Cleverly.

In the letter, BTL formally notified the PUC that it was withdrawing its previous submissions, which had been made in February 2026 as part of the proposed acquisition process.

BTL stated that it “no longer intends to proceed with the acquisition of Speednet Communications Limited” and said the PUC therefore no longer needs to consider the earlier submissions.

BTL said it had pursued the proposed acquisition in good faith, with the intention of strengthening Belize’s telecommunications sector and improving services for consumers.

According to the letter, the company sought to achieve “greater efficiencies, supporting continued investment and innovation, and delivering enhanced services and value to consumers.”

The company said it had engaged constructively with relevant stakeholders and authorities throughout the process but ultimately decided to abandon the transaction because of a “change in circumstances.”

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