For weeks we've been reporting on the fact that BTL is contemplating a purchase of Speednet, the parent company of the SMART phone service. The Prime Minister's family business would profit substantially in such a sale -reports say they could net about 15 - 20 million dollars. They are minority shareholders - while the Ashcroft Alliance owns the majority interests.
But it would also appear to be a manifest conflict of interest because ultimately the BTL board of directors would make the decision on any acquisition - and they are appointed by the Prime Minister - again, whose family stands to benefit.
We asked the PM about it today - and he disavowed any knowledge, involvement or beneficial interest:
Reporter:
"Sir, can you talk about the rumored sale of Smart to BTL Is that going through?"
John Briceno, Prime Minister:
"I don't know. You'll have to talk to people at BTL and the people at Smart."
Reporter:
"You are the super majority of the... or you... Appoints are the super majority of the board and your family owns Smart. If this sale were to go through, wouldn't it be a conflict of interest?"
John Briceno, Prime Minister:
"I wish it would be my family owns Smart. But those things are discussed at the management level and then it goes to the board. I can assure you that if something were to happen, it has to be in the interest of BTL and the interest of the Belizean people."
Reporter:
"So, are you not expected to get consultation from the public for something like that?"
John Briceno, Prime Minister:
"No, I don't think why. It is a private sector. Remember when you used to ask those questions to Mr. Barrow? What was Mr. Barrow's answer? It is a private company. It is a private company. Once they can show that it is something that is financially feasible for them, it's a up to them."
In a recent interview, Michael Ashcroft endorsed the prospect of an acquisition of SMART as a wise move for BTL in the current market environment.
