Chile: América Móvil to increase stake in ClaroVTR to 91 percent

América Móvil has announced plans to increase its stake in Chilean telco ClaroVTR from from the 50 percent which was acquired as part of a 50:50 joint venture (JV) with Liberty Latin America (LLA) to 91 percent.

“We are excited about the prospects of ClaroVTR. Our strong partnership with Liberty Latin America helped establish a converged connectivity provider that serves customers with world-class products and services. We look forward to the prospects of this business,” said Daniel Hajj, CEO of América Móvil.

“We are confident that this is the right next step for ClaroVTR and in the best interests of Liberty Latin America’s shareholders," added Balan Nair, CEO of Liberty Latin America. "América Móvil is a great partner and ClaroVTR has a strong management team in place to lead the business. We have been proud investors in Chile for decades, and while today’s market dynamics are challenging, the long-term outlook is bright.”