Puerto Rico: Liberty Latin to acquire Dish's spectrum assets in Puerto Rico and the US Virgin Islands

Liberty Latin America Ltd has struck a deal with Dish Network to acquire Dish's spectrum assets in Puerto Rico and the United States Virgin Islands, including 120,000 prepaid mobile subscribers in those markets, for $256 million. This amount will be paid in four annual installments commencing on the closing date, which is expected in 2024.

Vivek Khemka, SVP of Liberty Latin America, said,  “This transaction reinforces our commitment to Puerto Rico and the United States Virgin Islands (USVI) and showcases our intention to optimize service for our mobile customers. Upon completion of the spectrum acquisition, we will have valuable low, mid, and high band spectrum that will allow us to add more capacity, increase speeds, and further strengthen our 5G mobile network. We are also pleased to bring approximately 120,000 wireless subscribers to our business, which will increase our scale in the prepaid market and expand our sales channels.”

Tom Cullen, EVP of corporate development, Dish Network, added, “This transaction will enhance competition within the wireless market in Puerto Rico and the USVI, while providing Dish with additional capital to focus on our wireless business in the United States.”