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Liberty Global buys remaining 20% in Chile’s VTR

Liberty Global has acquired the remaining 20% of outstanding shares in Chile’s largest cable operator VTR in a deal worth some US$422 million (€304 million). 

Liberty bought the stake from a subsidiary of Corp Group Holding Inversiones Limitada in exchange for 10.1 million Liberty Global class C ordinary shares.

The US$422 million pricetag is based on Liberty’s share price of US$41.80 per-share, as of last Thursday.

“Based on the solid foundation we have developed with Corp Group over the last few years, VTR will now enter its next phase of growth in the dynamic Chilean market,” said Liberty Global CEO Mike Fries.