Liberty Latin America said it has completed its purchase of wireless and wireline assets in Puerto Rico and the U.S. Virgin Islands from AT&T on Oct. 31 in a deal valued at $1.95 billion.
Liberty Latin America first announced the deal in October 2019. Last month it said it had received approval from the U.S. Department of Justice for the transaction on the condition it divest of certain B2B assets in Puerto Rico.
"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,” said Balan Nair, president and CEO of Liberty Latin America, in a press release. “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.”
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Mike Farrell is senior content producer, finance for Multichannel News/B+C, covering finance, operations and M&A at cable operators and networks across the industry. He joined Multichannel News in September 1998 and has written about major deals and top players in the business ever since. He also writes the On The Money blog, offering deeper dives into a wide variety of topics including, retransmission consent, regional sports networks,and streaming video. In 2015 he won the Jesse H. Neal Award for Best Profile, an in-depth look at the Syfy Network’s Sharknado franchise and its impact on the industry.