Liberty Latin America and América Móvil Combine Their Chilean Operations, VTR and Claro Chile, to Create a New Joint Venture06 Oct 2022 in
Liberty Latin America and América Móvil Combine Their Chilean Operations, VTR and Claro Chile, to Create a New Joint Venture
Denver, USA and Mexico City, Mexico – October 6, 2022: Liberty Latin America Ltd. (“Liberty Latin America” or the “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.
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.”