Freshfields represents América Móvil on formation of telecom joint venture with Liberty Latin America in Chile
Freshfields is representing América Móvil in the formation of a 50:50 joint venture (the “JV”) in Chile in association with Liberty Latin America. The JV will combine the Chilean operations of América Móvil (Claro Chile) and Liberty Latin America (VTR), two of Chile’s leading telecommunications operators. The proposed transaction combines Claro Chile, one of Chile’s leading telecommunication service providers with over 6.5 million mobile customers and the complementary operations of VTR, a leading provider of fixed-line services in Chile, such as broadband and Pay TV services, which connects close to 3 million subscribers nationwide, to create a business with greater scale, product diversification, and a capital structure that will enable significant investment for fixed fiber footprint expansion and to be at the forefront of 5G mobile delivery. The JV is expected to generate significant operating benefits and value creation. The transaction was announced on September and is expected to close during the second half of 2022. More details about the transaction can be found here.
The Freshfields team was led by partners Andrea Merediz Basham and Ethan Klingsberg, counsel Enrique Dancausa and associates Kelsey MacElroy, Borja Coz, Victor Ma and Brayden Koslowsky on corporate/M&A; partner Claude Stansbury and associate Brendan Counihan on tax; partner Menachem Kaplan and counsel Brock Dahl on IP and data; partner Maj Vaseghi and associate Jeffery Anand on employee benefits and executive compensation; partner Olivia Radin, counsel Stephanie Brown Cripps and associate Elvira Sihvola on compliance; and special counsel Thomas Walsh on dispute resolution. Cariola, Diez & Perez-Cotapos acted as local Chilean corporate counsel and Pellegrini & Rencoret acted as local Chilean regulatory counsel.
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