News

Liberty Latin America announces $100 million share repurchase scheme

Shares and finance.jpeg

Liberty Latin America (NASDAQ: LILA) is to repurchase Class A and Class C shares valued at $100 million over the course of the coming two years as part of a buy back scheme.

In line with regulations, Liberty may acquire, at management’s discretion from time to time, its Class A common shares, Class C common shares, or any combination of Class A and Class C common shares. Repurchases may be made on the open market at prevailing market prices, in privately negotiated transactions, in block trades, derivative transactions and/or through other legally permissible means, in accordance with applicable rules and regulations. The arrangement may be suspended or discontinued at any time.

Liberty Latin America is the regional division of Liberty Global and has been trading as a separate entity since separating from Liberty Global in 2018.

In early 2019, the firm announced and then called off discussions to try to acquire Millicom within a matter of weeks.

At the time, no official reason was given for the breakdown in talks, but according to Bloomberg sources close to the matter communications broke down because LLA was unable win over Millicom’s management with a takeover bid that valued the company at $7.6 billion.

In the same year, LLA sold its subsidiary Cable & Wireless Seychelles to a consortium of local investors for $104 million and entered into a definitive agreement to acquire AT&T’s wireless and wireline operations in Puerto Rico and the US Virgin Islands for $1.95 billion.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree