Liberty Latin America and Millicom Share Update on Costa Rica Deal Proposal
Regulatory Decision: Costa Rica's telecommunications regulator, SUTEL, has denied the proposed merger between Liberty Latin America and Millicom, which aimed to enhance technology investment and market competitiveness.
Unexpected Outcome: Both companies expressed surprise at the decision, as they had engaged in ongoing discussions with SUTEL and believed they had addressed all potential concerns.
Future Collaboration: Following the regulatory ruling, Liberty Latin America and Millicom are collaborating on the next steps in accordance with their combination agreement.
Company Backgrounds: Liberty Latin America and Millicom are both significant players in the telecommunications sector, with respective websites provided for further information.
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Liberty Latin America Board Member Eric Zinterhofer to Transition Off Board by December 31, 2025
- Board Transition: Liberty Latin America announced that Eric Zinterhofer will step down from the Board effective December 31, 2025, after eight years of service, reducing the Board to nine members, which may impact the diversity and stability of company decision-making.
- Acknowledgment of Contributions: Executive Chairman Mike Fries noted that Eric provided deep professional expertise and sound judgment during his tenure, and although he is leaving the Board, his lasting impact reflects the company's commitment to valuing talent.
- Future Outlook: Eric Zinterhofer expressed his intention to continue following the company's progress post-tenure, indicating confidence in the company's strategic direction and suggesting potential ongoing informal support for management.
- Company Background: Liberty Latin America operates in over 20 countries across Latin America and the Caribbean, offering a range of communication services including digital video and broadband internet, showcasing its strong market presence and business diversity in the region.
Liberty Latin America and Millicom Share Update on Costa Rica Deal Proposal
Regulatory Decision: Costa Rica's telecommunications regulator, SUTEL, has denied the proposed merger between Liberty Latin America and Millicom, which aimed to enhance technology investment and market competitiveness.
Unexpected Outcome: Both companies expressed surprise at the decision, as they had engaged in ongoing discussions with SUTEL and believed they had addressed all potential concerns.
Future Collaboration: Following the regulatory ruling, Liberty Latin America and Millicom are collaborating on the next steps in accordance with their combination agreement.
Company Backgrounds: Liberty Latin America and Millicom are both significant players in the telecommunications sector, with respective websites provided for further information.