Freshfields Guides América Móvil to the Closing of Its Telecom Joint Venture with Liberty Latin America in Chile
Freshfields guided América Móvil to the closing of its 50:50 joint venture in Chile in association with Liberty Latin America, which combined the Chilean operations of América Móvil (Claro Chile) and Liberty Latin America (VTR), two of Chile’s leading telecommunications operators. Claro Chile is one of Chile’s leading telecommunication service providers with over 6.5 million mobile customers and VTR is a leading provider of fixed-line services in Chile, such as broadband and Pay TV services, which connects close to 3 million subscribers nationwide. The combination will 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 transaction was announced in September 2021, and closed on October 6, 2022 following the receipt of regulatory clearance from the Fiscalía Nacional Económica of Chile. More information is available 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 and M&A matters; Partner Claude Stansbury and Associate Brendan Counihan on tax matters; Partner Menachem Kaplan, Counsel Brock Dahl and Associate Daniel Spencer on IP and data matters; Associate Jeffery Anand on employee benefits and executive compensation matters; Partner Olivia Radin, Counsel Stephanie Brown Cripps and Associate Elvira Sihvola on compliance matters; and Partners Tim Harkness and Thomas Walsh on dispute resolution matters. Cariola, Diez & Perez-Cotapos acted as local Chilean corporate counsel and Pellegrini & Rencoret acted as local Chilean regulatory counsel.
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