Liberty Global mulls LatAm spin-off

Liberty Global is considering a spin-off of its Latin American activities. Its main investments are 80 per cent of the Chile cable and mobile operator VTR and 60 per cent of a cable network in Puerto Rico.

CET reports the company made the announcement in the prospectus of a bond offering by VTR. The group is spinning off VTR’s financing operations into a new company, separate from its main European holding company, UPC. As part of this, VTR will issue $1.4 billion in notes due 2022 and 2024 in order to pay off UPC credit facilities.

Liberty Global said the spin-off of the Latin American operations could take the form of issuing shares in the new company to existing Liberty shareholders.

Posted by on Jan 13 2014. Filed under Articles, Business.

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