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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.