As we've reported, BTL is courting international telephone giant Digicel to purchase minority interests in the company which goes on sale on October fifteenth.
Social Security is also being invited to purchase a substantial chunk of shares. But the Chamber of Commerce, and the Trade Union Congress, which sit on the investment committee of the Social Security Board, are both urging Social Security to stand down.
The chamber issued a release today which states that, quote:
"The (chamber) submits that we have not been provided with sufficient information to allow us to act with confidence in a decision to support the purchase of Fifty Million dollars worth of BTL Shares."
It adds that, "the future of BTL is fraught with uncertainties…These concerns must be neutralized before the BCCI can vote with confidence for the purchase."
The Chamber concedes that the shares that SSB had purchased in BTL in 1988, has been SSB's most successful investment to date.
The Trade Union Congress of Belize also issued a release this evening stating that their representative Lorelei Westby could not vote for the purchase of shares because it has not been provided with a prospectus; plus, the legalization of VOIP could affect Telemedia's profits, and litigation by the Ashcroft group could affect the investment.
And in lockstep with those two civil society groups - the opposition issued a release this evening stating that:
The PUP….expresses support for the Unions and the Private Sector (because) the deal…lacks transparency accountability and integrity."
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