Liberty Latin America Completes Acquisition of Telefónica’s Operations in Costa Rica

Rhea-AI Summary

Liberty Latin America has successfully acquired Telefónica’s wireless operations in Costa Rica. The deal aims to enhance customer service by merging Cabletica's fixed internet services with Movistar's mobile network. CEO Balan Nair expressed enthusiasm about the acquisition, highlighting the commitment to improved connectivity solutions for Costa Rican customers. Liberty Latin America operates in over 20 countries and provides a range of digital communication services.

Positive

• Acquisition of Telefónica Costa Rica expands market presence.
• Combining Cabletica and Movistar enhances service offerings.
• Potential for improved connectivity solutions for customers.

Negative

• None.

Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced it has completed the acquisition of Telefónica S.A.’s (“Telefónica”) wireless operations in Costa Rica (“Telefónica Costa Rica”).

Balan Nair, President and CEO of Liberty Latin America, commented, “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.”

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, 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 subsea 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210809005406/en/

FAQ

What is the significance of Liberty Latin America's acquisition of Telefónica Costa Rica?

The acquisition enhances Liberty Latin America's market position and service offerings by merging fixed and mobile operations.

What benefits can customers expect from the acquisition?

Customers can look forward to improved connectivity solutions and more diverse service options as the two companies combine resources.

When was the acquisition of Telefónica Costa Rica completed?

The acquisition was announced as completed in a press release by Liberty Latin America.

What are the stock symbols for Liberty Latin America?

Liberty Latin America trades under the stock symbols LILA, LILAK on NASDAQ, and LILAB on OTC Link.