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Mar 31, 2004

Prosser pays U.S. $89 Million for 84% of B.T.L.

A late release from the Government of Belize and Innovative Communication Corporation informs us that the sale of Belize Telecommunications Limited has officially been completed. I.C.C. paid eighty-nine million, seven hundred and twenty-nine thousand, eight hundred and thirty-eight U.S. dollars for the eighty-four percent of B.T.L. owned by Carlisle Holdings and the Belize Social Security Board. A statement by I.C.C. says it will eventually pay a total of one hundred and five million if the remaining shareholders accept his offer to purchase. The release did not deal with the terms of the sale, which, according to the Opposition United Democratic Party, include special concessions for the new buyers. Prime Minister Said Musa has told the press that he will release details of the sale agreement…but he did not say when.

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