Liberty acquires Telefonica Costa Rica
Leading telecommunications company Liberty Latin America has announced its acquisition of Telefonica’s wireless operations in Costa Rica amounting to US$500 million.
Liberty plans to merge the wireless unit with fixed-line service provider Cabletica, in which the telecom holds an 80% stake.
In a press release, Liberty stated that “by combining our fixed business, Cabletica, with the mobile network operating under the Movistar brand, we will offer greater value to our customers.”
Spain-based Telefonica had previously attempted to sell its Costa Rican branch last 2019 together with its units in Nicaragua and Panama. The deal was not completed after regulators in the other two countries did not approve the sale.
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