Liberty Latin America (LLA) has extended its reach in the Latin American market with the confirmation of its latest acquisition.
Liberty Latin America, a leading communications company operating in over 20 countries across Latin America and the Caribbean, has announced that it has completed the acquisition of international operator Telefonica’s wireless operations in Costa Rica.
This followed the authorisation in early August by the country’s President Carlos Alvarado Quesada of the acquisition of Telefonica Costa Rica. Earlier, a review had satisfied the antitrust concerns of regulator Sutel. Sutel approved the acquisition in June this year.
The deal, says LLA, creates a leading converged operator in Costa Rica. Balan Nair, President and CEO of Liberty Latin America, explained, “We are excited to welcome Telefónica Costa Rica’s employees and customers to Liberty Latin America.
“By combining our fixed business, Cabletica, with the mobile network operating under the Movistar brand, we will offer greater value to our customers. We are committed to providing even more connectivity solutions to Costa Ricans as we aim to bring converged offerings to the market.
“Together we are stronger and will be able to offer differentiated products and services to our customers, provide greater opportunities for our employees, and strengthen our ties to the communities we serve.”
In July 2020, Telefonica agreed the deal with LLA that has now seen LLA acquire Telefonica’s Costa Rican unit for about $505 million.
