Liberty Global announced that Balan Nair will assume the position of president and CEO of its Latin American and Caribbean operation (LiLAC) once the split-off from Liberty Global occurs, which is expected around the end of the year.
Currently, Nair is Chief Technology & Innovation Officer of the company and he will remain in this current position until the split-off is completed. LiLAC includes the operations of VTR, Cable & Wireless and Liberty Puerto Rico. In Q217, this unit reported revenues of USD 921 million and 5.22 million total RGUs.
“We believe the spin-off will benefit LiLAC shareholders by creating a stand-alone, asset-backed equity, while enhancing its potential attractiveness as an acquisition currency for consolidation opportunities in the highly-fragmented Latin American and Caribbean telecommunications markets”, said Liberty Global CEO, Mike Fries, during Q217 results presentation.