Cable & Wireless Panama closes Claro takeover

4 Jul 2022

Liberty Latin America (LLA) has announced that its 49%-owned subsidiary Cable & Wireless Panama (CWP, +Movil) completed its acquisition of Claro Panama from America Movil (AM) on 1 July. Balan Nair, President and CEO of LLA, commented: ‘We welcome the positive conclusion of the regulatory review for our transaction in Panama. The combination of Cable & Wireless Panama with Claro Panama will bring significant benefits to our customers, who will enjoy an enhanced network experience with greater coverage and speeds nationwide.’

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’.

At the time of the original announcement, Claro was said to serve 760,000 mobile subscriptions.