LLA takeover of UTS completing within a week

18 Mar 2019

The acquisition of Curacao-based United Telecommunications Services (UTS) by Liberty Latin America (LLA) will be signed this week, Curacao’s Minister of Communication Zita Jesus Leito confirmed to local media. An 87.5% stake held by the Curacao government is expected to be transferred in the initial deal, while the Sint Maarten Daily Herald reports that Sint Maarten’s government – the owner of the remaining 12.5% in UTS – will complete the transfer of its shares to LLA at a later date, ‘possibly in a month or two’. UTS group brand names (UTS and Chippie) will continue to exist for at least two years. No financial details have been given due to a non-disclosure agreement.

Curaçao, Liberty Latin America (LLA), UTS (Curacao), UTS (Sint Maarten)