Liberty Latin America (LLA) has indicated that its USD1.95 billion takeover of AT&T’s assets in Puerto Rico and the US Virgin Islands is on track to close in the second half of 2020. The pronouncement was made as Liberty Communications Puerto Rico (LCPR) issued USD90 million of additional Senior Secured Notes to help finance the deal.
Naji Khoury, CEO of LCPR, commented: ‘Since the announcement of our acquisition of AT&T’s assets in Puerto Rico and the USVI last October, we have made significant progress on the integration and regulatory approval process and remain on track to close the transaction later this year. We continue to be very excited about the combination with AT&T and the prospect of creating the leading integrated communications and entertainment provider in Puerto Rico.’
According to TeleGeography’s GlobalComms Database, the transaction includes network assets, including spectrum, real estate and 1.1 million wireless subscribers. AT&T is the leading provider of mobile services in Puerto Rico and also operates a fibre backhaul network.