Liberty Latin America Completes Acquisition of AT&T’s Wireless and Wireline Operations in Puerto Rico and the U.S. Virgin Islands
Liberty Latin America completed its acquisition of AT&T's wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands on October 31, 2020. The deal, valued at $1.95 billion, strengthens Liberty Latin America's position as a leading integrated provider in the region. CEO Balan Nair emphasizes the transaction's benefits for consumers and businesses through enhanced product offerings and superior customer service. This acquisition aligns with Liberty's inorganic growth strategy, focusing on delivering value to customers, shareholders, and employees.
- Acquisition enhances market position in Puerto Rico and the U.S. Virgin Islands.
- Total deal value of $1.95 billion supports growth strategy.
- Expected benefits include expanded product offerings and improved customer service.
- None.
DENVER, Colorado--(BUSINESS WIRE)--Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) completed its acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands on October 31, 2020, based on an enterprise value of
Balan Nair, President and CEO of Liberty Latin America, said, “This is a great day for Liberty Latin America, the employees that will be joining us from AT&T, and most importantly the consumers and businesses in Puerto Rico and the U.S. Virgin Islands who will realize the benefits of this transaction.
By creating the leading integrated provider, we will deliver added value to customers through expanded product offerings, more resilient infrastructure, and world-class customer service levels.”
Nair continued, “By completing this transaction, we continue to demonstrate our ability to execute on our disciplined inorganic growth strategy. We are excited about the opportunities ahead of us and are already working hard on our integration plan to drive value for our customers, our shareholders and our employees.”
ABOUT LIBERTY LATIN AMERICA
Liberty Latin America is a leading communications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil, BTC, UTS and Cabletica. The communications and entertainment services that we offer to our residential and business customers in the region include digital video, broadband internet, telephony and mobile services. Our business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. In addition, Liberty Latin America operates a sub-sea and terrestrial fiber optic cable network that connects over 40 markets in the region.
Liberty Latin America has three separate classes of common shares, which are traded on the NASDAQ Global Select Market under the symbols "LILA" (Class A) and "LILAK" (Class C), and on the OTC link under the symbol "LILAB" (Class B).
For more information, please visit www.lla.com.
