Liberty Latin America to acquire 80% of Cabletica

Cabletica2

Liberty Latin America announced that it has entered into a definitive agreement to acquire 80% of Costa Rican cable operator, Cabletica. In the transaction, Cabletica is being valued at an enterprise value of CRC 143 billion (approximately USD 250 million). The current owners of Cabletica – Televisora de Costa Rica – will retain the remaining 20% interest.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during the second half of 2018. Cabletica provides triple play services to residential customers. As of September 30, 2017, the hybrid fiber-coaxial network of Cabletica passed approximately 562,000 homes covering nearly 40% of the homes in Costa Rica, said Liberty in a press release. Cabletica served a total of 207,000 customers at the end of September, who subscribed to 327,000 subscription services.
“The acquisition of a leading cable operator in Costa Rica is an exciting move as it adds further scale to our growing platform and diversifies us into one of the region’s most attractive markets,” commented Balan Nair, President and CEO of Liberty Latin America.
René Picado, President of Televisora, said, “We are delighted to enter into this agreement and look forward to a long and successful partnership with Liberty Latin America that will deliver many benefits for both our customers and employees”.
In the Costa Rican pay TV market, Cabletica competes with Tigo, leader of the segment, as well as with Claro, Telecable, Sky and ICE, among other operators.

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