Liberty Latin America announced that its 49%-owned subsidiary Cable & Wireless Panamá has completed its acquisition of América Móvil’s operations in Panama (Claro Panamá).
Reported $4.8 billion in revenue, $81 million in operating income and $1.8 billion in adjusted OIBDA in 2021. In the fiscal year, double-digit revenue growth was driven by acquisitions.
The new company will combine VTR's complementary operations - broadband and pay TV services - with Claro Chile's services to create a larger scale business.
The company, owned by Liberty Latin America, bought América Móvil's operations in Panama for USD 200 million. Following regulatory approvals, the deal is expected to be completed during the first half of 2022.