Liberty Latin America Ltd. and Millicom International Cellular S.A. have confirmed that Costa Rica's Board of Telecommunications Superintendency, SUTEL, has issued its final resolution, deciding not to approve the proposed transaction to combine the companies' respective operations in Costa Rica. Despite both companies maintaining an open and ongoing dialogue with SUTEL throughout the review process and developing a comprehensive set of commitments, the regulator's decision was unexpected. The companies remain convinced that the transaction would have enabled greater technology investment, strengthened market competitiveness, and accelerated the expansion of next-generation networks, directly benefiting users and Costa Rica's digital ecosystem.
As of the press release date, Liberty Latin America Ltd.'s (NASDAQ: LILA and LILAK, OTC Link: LILAB) and Millicom International Cellular S.A.'s (NASDAQ: TIGO) stock prices were not provided. Additionally, financial metrics such as revenue, EBITDA, and net income for the current and previous periods were not included in the press release. Following these announcements, the company's shares moved 2.26%, and are now trading at a price of $8.16. For the full picture, make sure to review Liberty Latin America's 8-K report.
