Liberty Latin America in bid to acquire Millicom

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NEW YORK/FRANKFURT (Reuters) – Liberty Latin America Ltd (LILA.O), a wireless and cable operator in South America and the Caribbean, has approached peer Millicom International Cellular SA TIGOsdb.ST with an acquisition offer, Millicom said on Monday.

Millicom’s statement came hours after Reuters first reported on the negotiations. The deal would create one of the largest telecommunications carriers in Latin America, giving the combined company more heft to compete with some of the region’s biggest players, such as America Movil (AMXL.MX), Telefonica SA (TEF.MC) and AT&T Inc (T.N).

Millicom said it had received a “preliminary highly conditional non-binding proposal” for all of its shares from Liberty Latin America, which is backed by U.S. media and telecommunications mogul John Malone.

“There is no certainty that a transaction will materialize, nor as to the terms, timing or form of any possible transaction,” Millicom said. Liberty Latin America declined to comment.

 

read more at reuters.com

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