Innovative Communication Corporation LLC took management control today of Belize Telecommunications Ltd. from Lord Michael Ashcroft and Carlisle Holdings Ltd., as announced by Jeffrey J. Prosser, ICC’s chairman and CEO.
Innovative’s purchase price of 100 per cent of the stock is more than US US$105 million, making it the largest business transaction in the country’s history and now the largest privately owned telephone company in the US.
Last week Innovative concluded an agreement with the Government of Belize transferring ownership of BTL to ICC.
“We are very optimistic about the future of Belize,” observed Prosser. “Belize Telecommunications will be a significant contributor to the economic development of Belize and between the two are poised to have an industrious future together.”
Prosser made clear that ICC is committed to investing further in the country’s infrastructure with fibre, broadband services and the latest telecommunications technology for residential and business customers. “We will work closely with Prime Minister Said Musa,” explained Prosser, “and the Belizean government to assess new growth areas and prioritise where infrastructure is needed.” ICC is the first telephone company ever to bundle its local, long-distance, wireless cable TV and broadband (DSL) services.
At the moment, BTL has nearly 50,000 access land lines, serves 52,000 cellular subscribers and more than 10,000 Internet customers. In addition, the company has 491 employees in 17 branch offices throughout the Central American-Caribbean basin.
ICC has an enviable position in the market and an unlimited potentional for expansion, since the company plays a pivotal role in providing high-speed access to companies around the world, as the key termination point for submarine fibre systems that connect mainland US with Europe and South America.
Addressing the matter of employees, Prosser explained that, ” the current Carlisle management is no longer in place. We will assess the Belizeans in the company and build a management team of Belizean nationals.”