Liberty Latin America receives authorization to acquire Telefónica Costa RicaMonday, August 2nd, 2021
Liberty Latin America Receives Authorization From the President of Costa Rica to Acquire Telefonica’s Costa Rican Operations
- Transaction to close by mid-August 2021
DENVER, Colorado — Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) and Telefónica S.A. (“Telefónica”) in Costa Rica (“Telefónica Costa Rica”), announced today that the companies have received authorization from the Costa Rican President, Carlos Alvarado Quesada, for the sale of Telefónica’s operations in Costa Rica to Liberty Latin America’s 80% subsidiary, Cabletica. The Superintendent of Telecommunications (Sutel) also determined there was no evidence the transaction would produce any anti-competitive effects and approved the transaction without conditions.
Telefónica and Liberty Latin America are excited to complete the transaction and to combine Cabletica and Movistar in Costa Rica. The companies intend to close the transaction shortly.