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SSB seeks to raise BTL stake from 20% to 34%, report says

3 Mar 2017

The Belize Social Security Board (SSB) intends to purchase BZD35 million (USD17 million) worth of government shares in Belize Telemedia Ltd (BTL), as part of a reopened share offer. According to local news site Amandala, the SSB will pay BZD5 per share for a total of seven million BTL shares. The SSB currently holds a 20.1% stake in BTL, which stands to increase to 34.3%, following the share deal, the newspaper notes.

The share sale offer – which was initially proposed last year, only to be withdrawn – is expected to be used to help pay off the next instalment of BTL’s BZD458.4 million settlement with former owner, Lord Michael Ashcroft. The final financial judgment relating to the share price was handed down in June 2016.

Belize, Belize Telemedia Limited (BTL, Digi)

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