Liberty Latin America has completed its split-off from Liberty Global, establishing it as an independent publicly-traded company.
The completion of the previously announced split-off establishes Liberty Latin America a ‘pure play’ independent telecoms company focused on Latin America and the Caribbean with 6.4 million homes passed, serving 5.3 million revenue generating units and 3.7 million mobile subscribers.
Liberty Latin America’s businesses include: Cable & Wireless Communications (C&W), which operates in the Caribbean, Latin America and the Seychelles; VTR in Chile; and Liberty Cablevision in Puerto Rico.
“The split-off of our Latin American and Caribbean operations from Liberty Global will ensure that this new company will have access to the capital and resources necessary to achieve superior financial and strategic growth,” said Liberty Global CEO and Liberty Latin America executive chairman, Mike Fries.
“The launch of Liberty Latin America is an exciting moment for all shareholders and a clear confirmation of the opportunity for value creation in the Latin American and Caribbean region.”
Liberty Latin America president and CEO Balan Nair said: “Today marks an important milestone for Liberty Latin America as we begin the path forward as an independent company focused squarely on the region.
“I see tremendous opportunity to bring world-class technology, innovation and scale to our operations, expand our network coverage, and deploy exciting new service offerings to our residential and business customers.”
With the split-off, Liberty Latin America Class A and Class C common shares are now trading on the NASDAQ Global Select Market under the symbols “LILA” and “LILAK,” respectively, and the Class B common shares are quoted on the OTC Markets under the symbol “LILAB”.