Panamanian cableco Cable Onda has denied reports that it is set to be sold to Liberty Latin America (LLA) in a USD1.2 billion takeover deal. TeleSemana quotes the company as saying: ‘In recent days there has been a rumour in the media about the sale of Cable Onda to the international group Liberty Global … this information is completely false.’ Late last week, a source close to the company told local publication La Estrella that a deal had been agreed, without providing additional details.
TeleGeography notes that LLA already has a presence in the Central American nation via its ownership of Cable & Wireless Panama (CWP). LLA was created in December 2017, following the ‘split-off’ of Liberty Global’s Latin American and Caribbean businesses into a new company. LLA intends to consolidate its presence in the region through M&A, and in February 2018, agreed to purchase an 80% stake in Costa Rica’s Cabletica for USD245.7 million.