Liberty Latin America (LLA)and Grupo Telefónica announced that the companies have received authorization from the Costa Rican President, Carlos Alvarado Quesada, for the sale of Telefónica’s operations in Costa Rica to Liberty Latin America’s 80% subsidiary, Cabletica.
The Superintendent of Telecommunications (Sutel) also determined there was no evidence the transaction would produce any anti-competitive effects and approved the transaction without conditions.
Telefónica and Liberty Latin America are excited to complete the transaction and to combine Cabletica and Movistar in Costa Rica. The companies intend to close the transaction shortly. In June 2020, the Telefónica Group had announced the sale and purchase agreement in the amount of USD 500 million, indicating that the operation was subject to certain conditions, including the necessary regulatory approvals.