News Releases

Baker Botts Advises Liberty Latin America on Combination of VTR and Claro Chile

Release

Deal Description:  Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) and América Móvil S.A.B. de C.V. (“América Móvil” or “AMX”) (BMV: AMX, NYSE: AMX and AMOV) announced an agreement to combine their respective Chilean operations, VTR and Claro Chile, to form a 50:50 joint venture.

The proposed transaction combines the complementary operations of VTR, a leading provider of high-speed consumer fixed products, such as broadband and Pay TV services, where it connects close to 3 million subscribers nationwide, and Claro Chile, one of Chile’s leading telecommunications service providers with over 6.5 million mobile customers, to create a business with greater scale, product diversification, and a capital structure that will enable significant investment for fixed fiber footprint expansion and to be at the forefront of 5G mobile delivery.

Completion of the transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2022.

Baker Botts acted as Liberty Latin America’s legal advisor.

Baker Botts Lawyers/Offices Involved:

Corporate: Jonathan Gordon (Partner, New York); Jim Marshall (Partner, Houston); Jamie Yarbrough (Senior Associate, Houston); Grace Matthews (Senior Associate, Austin); Carlos Marquez (Associate, Washington, D.C.); David Adler (Associate, New York); Henry Klimowicz (Associate, New York); Charlie Gili (Associate, New York)

Tax: Jon Lobb (Partner, Houston); Peter Farrell (Senior Associate, Washington, D.C.)

Antitrust:
Paul Cuomo (Partner, Washington, D.C.); Matt Adler (Senior Associate, Washington, D.C.)

Employee Benefits: Krisa Benskin (Special Counsel, Houston); Gabriela Alvarez (Associate, Houston)

Data Privacy: Cynthia Cole (Partner, Palo Alto)

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 12 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology, and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

Related Professionals