Liberty Latin America and América Móvil Combine Their Chilean Operations, VTR and Claro Chile, to Create a New Joint Venture
October 06 2022 - 1:30PM
Business Wire
ClaroVTR plans to offer greater connectivity
solutions and accelerate digital development in Chile
Liberty Latin America Ltd. (“Liberty Latin
America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB)
and América Móvil S.A.B. de C.V. (“América Móvil” or “AMX”)
(BMV: AMX, NYSE: AMX and AMOV) confirm that the Chilean
National Economic Prosecutor’s Office (FNE) has approved the
announced agreement to combine their respective Chilean operations,
VTR and Claro Chile, to form a 50:50 joint venture (the “JV”). The
operators have met all contractual obligations and have completed
the transaction.
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ClaroVTR will be led by newly-appointed Chief Executive Officer,
Alfredo Parot. Parot recently joined Claro Chile as General Manager
and, prior to that, spent 16 years at Entel Chile in a variety of
senior commercial, operational, and technology roles.
Balan Nair, CEO of Liberty Latin America, and Daniel Hajj, CEO
of América Móvil, commented: “This is an important moment that will
transform the telecommunications industry in Chile as we are now
cleared to accelerate the country’s digital and connectivity goals
for Chileans. The combination of VTR and Claro will create a new
company that will generate greater benefits for both consumers and
businesses and will further stimulate economic and social
development by increasing access and coverage to more people in
more places across the country.”
About Liberty Latin America Visit: www.lla.com
About América Móvil Visit: www.americamovil.com
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding the benefits of the transaction,
the expected impact of the transaction, and other information and
statements that are not historical facts. These forward-looking
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by these statements. These risks and uncertainties include, but are
not limited to, events that are outside of the control of the
parties, such as natural disasters and pandemics (including
COVID-19), the parties’ ability to continue financial and
operational performance at historic levels, continued use by
subscribers of their services, their ability to achieve expected
operational efficiencies, synergies and economies of scale, as well
as other factors detailed from time to time in their respective
filings with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date of this press
release. Both parties expressly disclaim any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
their expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statement is
based.
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version on businesswire.com: https://www.businesswire.com/news/home/20221006005566/en/
For more information, contact:
Liberty Latin America Investor Relations Kunal Patel
ir@lla.com Liberty Latin America Media Relations Claudia
Restrepo llacommunications@lla.com
América Móvil Investor Relations Daniela Lecuona
daniela.lecuona@americamovil.com América Móvil Media
Relations Renato Flores Cartas
renato.flores@americamovil.com
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