Thursday 1 December 2022

Cabletica’s purchase of Telefonica Costa Rica approved

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1 December 2022 - At The Banks - BCCR

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QCOSTARICA – Liberty Latin America, the parent company of Cabletica and Telefónica de España, announced that they received the approval of the Costa Rican Government to complete the sale of Telefónica Costa Rica, operator of the Movistar brand in the country announced on July 30, 2020.

Telefonica’s Movistar is housed in Escazu Costa Rica.

Movistar in Costa Rica offers mobile services, fixed Internet, Voice over IP, and Satellite TV

In their statement, the companies indicated that the Superintendencia de Telecomunicaciones (Sutel) determined that there was no evidence that the transaction was anti-competitive.

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In addition, they reported that they expect to conclude the sale and purchase in the middle of this month.

Liberty already owns 80% of Cabletica, which provides pay-TV, Internet and fixed telephony services.

The US-based Liberty Latin America (headquartered in Denver, Colorado) is a leading telecommunications company operating in over 20 countries across Latin America and the Caribbean.

The company, in addition to Cabletica SA in Costa Rica, owns telecommunications operators such as VTR in Chile, Liberty communications in Puerto Rico, United Telecommunications Services in the Dutch Caribbean island of Curaçao, and Cable & Wireless in Panama.

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