Government to offload BTL stake

According to reports in the local press the Belize government has concluded a set of agreement for the sale of its 37.5% holding in Belize Telecommunications Limited. 10% will be sold to Ecom, a company controlled by Michael Ashcroft, with a further 2.5% being sold to Ecom for placement with another buyer. A further 5% will be bought by Ashcroft’s Belize Bank specifically for onward sale – via a public offering – to the general public. The remaining 20% will be sold to Sunshine Holdings, a holding company for employees of BTL.