Liberty Latin America-backed Cable & Wireless Panama to acquire America Movil S.A.B de C.V. for $200m.

Liberty Latin America-backed Cable & Wireless Panama, a Panamanian Telecommunications company, agreed to acquire America Movil SAB de CV, a Mexican telecommunications corporation, for $200m. “We are delighted to further increase our commitment to Panama through today’s announced acquisition of Claro Panamá. The integrated business will operate over a network with extensive coverage and invest to deliver innovative mobile products and services for Panamanian consumers and B2B customers, including via leading technologies such as 5G. We at Liberty Latin America have established our group Operations Center in Panama and see the country as an important digital hub for the region, which we expect to drive growing demand for our full suite of mobile and fixed connectivity solutions. The valuation for the acquisition is consistent with our disciplined approach towards M&A and will be free cash flow accretive on a per share basis,” Balan Nair, Liberty Latin America President and CEO.