New BTL majority shareholder Jeffrey Prosser spent his first day as owner of the company in meetings with senior staff and heads of departments.
Government finalized the sale of 84% of the company to Prosser and his Innovative Communications Corporation for just over US $89 million late yesterday.
We don't know what is the outcome of those meetings but 7NEWS understands that Prosser will have a breakfast meeting in the morning with union members and management. Prosser has gone on the record saying he does not intend to import executives and will appoint a Belizean to run the company.
And while BTL's former majority owner Michael Ashcroft left the building yesterday with his US $57 million, he didn't leave happy. In a one page statement issued today, Ashcroft threw a grenade at the government saying "Whilst I remain unconvinced that the ICC deal is in the national interest, my overriding duty as a director of BTL is to the shareholders and employees." Ashcroft says that because of that duty, he concluded that what he called "an exceptional package of concessions was in their best interests."
In the statement Ashcroft acknowledged the argument from the opposition UDP on article 38G of the BTL articles of association, which prohibited foreign ownership of more than 1/3 of BTL stock. He called the opposition's argument "excellently written and well argued" and called the Attorney General's submission "pathetic."
Ashcroft's last word was to the 1,500 local shareholders who still own 16% of the company. He told them to "consider the enormous benefits of the concessions against the political risk...especially since the opposition has challenged the justification of the grant of such concessions." Ashcroft ended by thanking the staff and management for their service during a time, which he describes as "difficult when government refused to ensure a level playing field."