Tuesday, November 3, 2020

AT&T Closes Sale of Puerto Rico, USVI Operations for $2B in Cash

 AT&T announced yesterday that it has completed the sale of its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands to Liberty Latin America (NASDAQ: LILA and LILAK). The transaction includes employees, network assets and spectrum, real estate and leases, customers, including more than one million wireless subscribers; and contracts. A search of the Inside Towers Database showed 55 towers registered to AT&T in Puerto Rico and seven in the Virgin Islands.

The U.S. Justice Department recently called on the two companies to divest some fiber assets and customers to WorldNet Telecommunications to complete the deal.

Balan Nair, President and CEO of Liberty Latin America, said, “This is a great day for Liberty Latin America, the employees that will be joining us from AT&T, and most importantly the consumers and businesses in Puerto Rico and the U.S. Virgin Islands who will realize the benefits of this transaction. By creating the leading integrated provider, we will deliver added value to customers through expanded product offerings, more resilient infrastructure, and world-class customer service levels.” Continue Reading


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