By Michael Dabaie

 

Liberty Latin America Ltd. said Costa Rican President Carlos Alvarado Quesada authorized the sale of Telefonica S.A.'s operations in Costa Rica to Liberty Latin America's 80% subsidiary, Cabletica.

The company said the country's Superintendent of Telecommunications also determined there was no evidence the transaction would produce any anti-competitive effects and approved the transaction without conditions.

Telefonica and Liberty Latin America said they plan to complete the transaction and to combine Cabletica and Movistar in Costa Rica shortly.

Liberty Latin America shares were up 1.7% to $13.88 in early trading. Telefonica American depositary receipts were up 1.8% to $4.67.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

August 02, 2021 10:11 ET (14:11 GMT)

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