Mexico Metropolis. América Móvil, owned by Mexican tycoon Carlos Slim, has acquired a stake from Liberty Latin America (LLA) that provides it full management of the Chilean cable and phone operator ClaroVTR.
The American LLA had management of fifty % of the Chilean firm, whereas the Mexican firm had the opposite 50 %.
In 2023, each firms reached an settlement to inject $1 billion into ClaroVTR to strengthen its liquidity. As agreed, this motion included the chance for Carlos Slim’s firm to amass $800 million in convertible bonds from the Chilean agency.
The contract additionally included a sequence of commitments such because the restructuring of a debt of $324 million and a deadline for LLA to train in August 2024 its proper to stay as an equal associate with América Móvil, which didn’t materialize.
“We’re excited concerning the prospects for ClaroVTR. Our partnership with Liberty Latin America contributed to the institution of a convergent connectivity service supplier. We sit up for the event of this enterprise,” mentioned Daniel Hajj, CEO of América Móvil.
América Móvil reported that it’ll rework the convertible notes it holds into ClaroVTR, thereby acquiring a controlling stake of round 91 %. The remaining 9 % shall be within the palms of Liberty Latin America.
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– 2024-06-29 09:44:29
