Liberty Latin America Ltd. ("Liberty Latin America" or "LLA") and Millicom International Cellular S.A. ("Millicom") have provided an update on the proposed transaction to combine their operations in Costa Rica. The Board of Telecommunications Superintendency (SUTEL) in Costa Rica has issued its final resolution, deciding not to approve the proposed transaction. This decision comes despite both companies maintaining an open and ongoing dialogue with SUTEL throughout the review process.
The companies assert that the proposed transaction would have led to increased technology investment, strengthened market competitiveness, and accelerated the expansion of next-generation networks, all of which would have directly benefited users and Costa Rica's digital ecosystem. However, following the regulator's decision, the companies are now working together on the next steps in accordance with the terms of the combination agreement.
The press release did not include specific financial metrics or changes in performance since the last period. Following these announcements, the company's shares moved 0.0%, 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.
