Cable & Wireless Panama receives approval for Claro takeover

28 Jun 2022

Cable & Wireless Panama (CWP, +Movil), a subsidiary of Liberty Latin America (LLA), has announced that it has received all necessary regulatory approvals to complete the acquisition of Claro Panama from America Movil. As per a statement by the telco, Cabinet Council Resolution No. 69 (dated 22 June 2022) was published in Official Gazette No. 29563-B (23 June 2022), meaning that the modification of Claro Panama’s concession has been authorised, and all rights and obligations can now be transferred to Cable & Wireless. The next step in the process will be the closing of the transaction, which is subject to the fulfilment of all the conditions between both parties.

As previously reported by CommsUpdate, the LLA subsidiary agreed to acquire Claro Panama in September 2021 in an all-cash transaction valued at USD200 million. In April 2022, rival operator Digicel Panama announced that it intended to apply for voluntary liquidation and withdraw from the Panamanian telecoms market as a result of the merger, which it protested represented an ‘illegal economic concentration’.