Liberty LatAm rallies cash for AT&T assets buy - Mobile World Live

Liberty LatAm rallies cash for AT&T assets buy

28 MAY 2020

Broadband provider Liberty Latin America secured more investor funding to back an almost $2 billion acquisition of AT&T assets in Puerto Rico and US Virgin Islands, with the company expecting to close the deal in the second half of this year.

Liberty Latin America subsidiary Liberty Communications Puerto Rico (LCPR) issued $90 million of additional senior secured notes due back in 2027, to finance its $1.95 billion acquisition of AT&T network assets, spectrum, property, and customers including 1.1 million mobile subscribers.

Naji Khoury, LCPR CEO, said the company had made “significant progress” on regulatory approval which is being adjudicated by the US Federal Communications Commission, and the company remains “on track to close the transaction later this year”.

With AT&T assets, the company aimed to create the “leading integrated communications and entertainment provider in Puerto Rico”, said Khoury.

The deal was announced in October 2019. At the time John Stephens, AT&T CFO, said the asset sale was part of the operator’s strategy to raise funds and pay off billions in debt.



Manny Pham

Manny joined Mobile World Live in September 2019 as a reporter based in London. He has previous experience in telecoms having worked for B2B publication Mobile News for three years where he climbed up to the position of Features Editor....

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