It's a company of which much has been said but little has been heard.
Well today, after the public revelation of its special arrangement with BTL has faded from the headlines, Speednet issued a release saying that its business plan filed with the PUC foresaw a locally owned company offering low cost services. The release says that to achieve this it's business plan included the renting of infrastructure from other companies. To this end, Speednet says it has been pursuing rental agreement with BTL and Intelco for months and these are commercial agreements, nothing more and nothing less.
It's straightforward and plainspoken, but the release doesn't detail is how many agreements Speednet and BTL have signed and under what arrangement Speednet signed with BTL on February 6th when ownership was in transition.
As an aside, it should be noted that BTL's lawsuit against Speednet was dropped on February 17th, the same day government announced that it paid Carlisle the final $10 million for its 52% holding.
And while the Speednet contract have verifiable factored into closing negotiations between BTL and ICC, we can't say exactly how much. But one thing we do know is that the deal has not been closed by the end of business today and according to our reports, Jeffrey Prosser, has not arrived to sign off on it. On Tuesday night, Finance Minister Fonseca told us he would be coming by Thursday.