And going to Speednet or SMART.
We asked why BTL prefers to buy over the competition when they can force them out of business through cut throat competition. a heated exchange between the press and the Chairman, he said that they are buying over more than technology:
Jules Vasquez -
"I'm told the price is 80 million, why buy them out?"
"You can just outcompete them and crush the Competition."
Mark Lizaragga, Chairman - BTL Board
"That is one way. Then who is going to find the money to invest in all the technical investments that we need to make?"
Jules Vasquez
"They have an HSPDA system. What are you buying?"
Mark Lizaragga, Chairman - BTL Board
"I've already told you. We are looking at the value of the cash flows and the consumers because we have excess capacity on our networks."
Jules Vasquez
"But if so, then kill them through natural attrition. Then the customers have to come to you anyway. I'm just saying that it is a package, and the chamber alluded to this week, whether it's a package that serves private interests or not, clearly the public interest. It seems like private enrichment."
Mark Lizaragga, Chairman - BTL Board
"That's the seed that you have quite planted quite well. And I'm hoping that does, and I'm hoping that at the end of the day, you will see that what we're doing is in the best interest of the company. And that the savings, the efficiencies that will come to the market rather than than continuing the race to the bottom, which is of no good to nobody, especially when we have a responsibility of maintaining our network to a certain standard."
Jules Vasquez
"I understand you declared a conflict of interest, but how do you negotiate with your own brother? How do you negotiate with the family of the man who appointed you? Isn't that so inescapable that even a declaration of conflict will not save you from the overwhelming nature of this conflict of interest?"
Mark Lizaragga, Chairman - BTL Board
"You will always have your way of looking at things. The way to do it is that we get independent verification of as to whether it is in the best interests of the company. When I sit here, I'm very clear as to where my responsibility lies."
