Costa Rica watchdog greenlights Liberty’s $250MN Cabletica buyout | Major Businesses | Business | News | Rapid TV News
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cabletica 29 june 2018 1Costa Rica’s Superintendencia de Telecomunicaciones (Sutel) has given Liberty Latin America the go-ahead to acquire 80% of the cable TV operator Cabletica.

The agreement reached between Liberty Latin America and Televisora de Costa Rica, current owner of the pay-TV operator, has valued Cabletica at US$250 million.

Román Fallas, legal advisor at Televisora de Costa Rica, told newspaper El Financiero, the companies have already been notified of Sutel’s decision.

The deal is expected to conclude by the end of September.

Through the acquisition, the newly-created Latin American company will increase its share in the region’s pay-TV market. It already controls Chile’s VTR and the multiple Cable & Wireless operations across the Caribbean.

Liberty will control one of the leading providers in Costa Rica’s pay-TV market, which is led by Millicom’s Tigo and Claro.

“This transaction is a prime example of our consolidation ambitions, leveraging our unique subsea and terrestrial footprint in a region that remains highly fragmented and continues to be both underpenetrated and underserved by high-speed data services,” Balan Nair, president and CEO, Liberty Latin America, said when the deal was first announced.