The proposed acquisition of Speednet/SMART, as we have been reporting for months, it puts the Prime Minister in a conflicted position: he appoints the supermajority of BTL board members - who have to decide on it. Same for the PUC, which has to regulate it. And same for the Cabinet which is now being allowed to consider it.
And, the PM's family stands to benefit substantially from the sale.
And perhaps that's why for months he stonewalled us about an acquisition that he must have known was being negotiated behind closed doors. Jules Vasquez looks at how his public message has changed over the months and years:
John Briceno, Prime Minister
"I don't know. You'll have to talk to people at BTL and the people at Smart."
Jules Vasquez:
" Speednet, is that deal still live?"
John Briceno, Prime Minister
"I, I think you need to talk to other people about that, but I would not comment on that. I have nothing to do with that. Maybe you need to talk to Jamie, his number is ———."
Jules Vasquez:
Sir, but he's your brother. You talk to him every day.
John Briceno, Prime Minister
"Can we have another question?"
Courtney Menzies:
"Is there a timeline for the BTL acquisition of Speednet?"
John Briceno, Prime Minister
"I don't know you'd have to ask the people at BTL."
Courtney Menzies:
"Sir, but what would be the public explanation considering that it is a conflict of interest with BTL and Speednet being owned by your family members?"
John Briceno, Prime Minister
"So then why did you ask me that question if you feel it is a conflict of interest? I have said already that I am not involved with it."
John Briceno, Prime Minister
"That has not come to us yet, if anything is happening they're doing their negotiations and when that happens, when the negotiations are done, they report to us."
John Briceno, Prime Minister
"And also remember, taxpayers invested almost $700 million in the BTL, and if they do not make changes, it's going to crash as it is right now in their projections. Without the consolidation, their growth is flatlining for the next five years."
John Briceno, Prime Minister
"BTL owes the government millions of dollars in taxes, millions of dollars in dividends. We have been propping up this company, this company also have to become more efficient and more effective and more driven by customer service. Maybe this is a wake up call for BTL to get
And, following the Cabinet cue, Reports say that the BTL Chairman is now pushing for a provisional approval of the acquisition by next week.
