BTL voted yesterday to acquire Speednet after months of controversy, corporate wrangling, and political intrigues.
So, what happens next? Well, BTL plans to execute a share purchase agreement. That transaction carries an eighty-million-dollar price tag, benefiting primary stakeholders: the Ashcroft Alliance and the Briceño family.
But, politically, the ground is still shaky as the social partners and the opposition are looking to form a unified bloc against the sale. But will they get any support from PUP Ministers who have not publicly supported the deal?
Senior Minister Francis Fonseca is one of them; he publicly said in January that he did not support the acquisition of Speednet at that time and added that he supports competition in the marketplace.
But, in the 7 months since, and through many twists and turns, the deal has been sealed-despite political protest and public misgivings. So what is Fonseca's position now? We asked him this morning:
Francis Fonseca, Minister of Education
"Yeah, what I know so far is just what has been reported in the media. I expect that at our next Cabinet meeting we will receive a briefing on the matter, so I will reserve my public comments until we have received a briefing on the matter. Obviously, there are legitimate concerns and questions that remain, and my expectation is that as a government we will respond appropriately and respectfully to those concerns and questions that have been raised."
"I have no official information except what has been reported. When we get a proper briefing in Cabinet, then I will be able to respond to those questions, but I will reserve any further public comments until I get proper information in Cabinet."
Cabinet met yesterday, but apparently the matter was not tabled.
