Cabinet rejects the Speednet acquisition
By Breaking Belize News Staff (HP): The deal that dominated national dialogue for weeks is dead. Cabinet announced on Thursday, August 13, 2026, that it does not support the proposed acquisition of SMART/Speednet by Belize Telemedia Limited, effectively ending the takeover, and the decision landed one day before the unions’ planned wear-black protest and five […] The post Cabinet rejects the Speednet acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Black News 
By Breaking Belize News Staff (HP): The deal that dominated national dialogue for weeks is dead. Cabinet announced on Thursday, August 13, 2026, that it does not support the proposed acquisition of SMART/Speednet by Belize Telemedia Limited, effectively ending the takeover, and the decision landed one day before the unions’ planned wear-black protest and five days ahead of the demonstration set for Cabinet’s own doorstep.
“After careful deliberation, it is Cabinet’s informed position that it does not support the proposed acquisition,” the official statement reads.
Cabinet framed the decision around ownership and obligation. The Government of Belize, the Belize Social Security Board, and the people of Belize are the majority owners of BTL, the statement notes, giving Cabinet “a duty and obligation to responsibly review all available data and relevant information” and to consider the views of its members, social partners including the media, and the public. The proposed acquisition, Cabinet acknowledged, “is a matter of national concern.”
The statement closed with thanks to “all those who engaged in good faith and constructive dialogue” and an assurance that Cabinet “remains determined to always listen respectfully to their voices and act in the national interest.”
The road to the rejection ran through weeks of mounting pressure. The National Trade Union Congress of Belize rejected the consolidation and announced two days of action, a national wear-black protest set for Friday, August 14, and a demonstration outside the Sir Edney Cain Building on Tuesday, August 18, deliberately timed to the Cabinet meeting where the final decision was expected. The teachers’ union council had agreed to join pending membership consultation. Public scrutiny had also been sharpened by the confirmed fact that the Briceño family retains its 22 percent stake in Speednet, though no wrongdoing was ever established in connection with the holding.
In the end, the decision arrived before a single placard was raised.
What becomes of Speednet now, and whether the unions stand down their planned actions, are the immediate questions. Breaking Belize News will follow the responses as they come.
The post Cabinet rejects the Speednet acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
