Liberty Latin America and Millicom to merge Costa Rica operations

Liberty Latin America and Millicom to merge Costa Rica operations is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Liberty Latin America and its minority partners in Costa Rica will hold approximately 86% of the joint venture, while Millicom will hold 14%.
• This transaction will ensure that Liberty Costa Rica continues to be a leading connectivity operator in the market.

OUR TAKE 
The merger of Liberty Latin America and Millicom’s operations in Costa Rica creates a stronger, more competitive entity with substantial investment capabilities. This will support accelerated technological advancements, network expansion, and service improvements, ensuring the long-term competitiveness of the market and providing high-quality services to customers.
–Zora Lin, BTW reporter

What happened

Liberty Latin America has agreed to combine its operations in Costa Rica with Millicom. Under the terms of the all-stock agreement, Liberty Latin America and its minority partner in Costa Rica will hold around 86% interest and Millicom 14% in the joint operations, with the final ownership percentage confirmed at closing. 

Balan Nair, President and CEO of Liberty Latin America, stated, “Costa Rica is a great country for business, and Liberty Costa Rica is a strong asset for us. By combining Liberty and Tigo, we will accelerate the transition of our fixed business to FTTH and enable us to provide superior high-speed services to consumers.”

Mauricio Ramos, Chairman of Millicom, remarked, “By enhancing investment in fiber networks, our joint operations will greatly benefit the telecom industry and help accelerate technological development in Costa Rica’s competitive market.”

The transaction is expected to be completed in the second half of 2025, subject to customary closing conditions, including regulatory approvals.

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Why it’s important

This transaction strengthens both companies’ commitment to the country by creating opportunities for scale platforms and accelerating fiber network expansion. It will not only enhance customer experiences and drive innovation but also provide growth opportunities for company employees. Liberty Costa Rica will continue to be a leading connectivity operator in the market.

The merger will increase fiber competition, promote high-quality and high-value services, and provide digital economy services to all Costa Ricans. Additionally, it will improve operational efficiency and enhance commercial products, maintaining high-quality and valuable services for Costa Rican customers.

This transaction is significant for advancing Costa Rica’s telecom infrastructure. By boosting investment in fiber networks, the joint venture is expected to drive technological development and strengthen Costa Rica’s competitive edge in the market.