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Cable and Wireless Panamá to Acquire América Móvil´s Panama Operations for USD 200m
Friday 17 September 2021

Mobile telephony firm Cable and Wireless Panamá S.A., a subsidiary of Cable and Wireless Liberty Latin America Ltd. (NASDAQ: LILA) (OTC: LILAB), has agreed to acquire Mexican telecommunications corporation América Móvil S.A.B. de C.V.'s (AMX) operations in Panama in a transaction valuing Claro Panamá at USD 200m, the company said.

The all-cash transaction is on a cash- and debt-free basis. This equates to a mid-single digit acquisition multiple of Claro Panamá's fiscal year 2020 Adjusted OIBDA, including projected annual run-rate synergies.

The acquisition is intended to be financed using cash and incremental borrowings at Cable and Wireless Panamá.

Completion of the transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2022.

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.

Advisory services to Cable and Wireless Panamá on the transaction have been provided by LionTree.
Date Published: 17/09/2021