LILAK - Liberty Latin America gets OK to buy Telefónica's Costa Rica unit

Liberty Latin America (LILA -0.4%) and Telefónica (TEF +1.9%) have received authorization from the president of Costa Rica for Liberty to acquire Telefónica's operations in the country. President Carlos Alvarado Quesada has given the OK for Telefónica to sell its unit to Liberty Latin America's 80% subsidiary Cabletica. There was no evidence there would be anticompetitive effects, the superintendent of Telecommunications says, and the deal is approved without conditions. That deal is expected to close shortly and will bring together Cabletica and Movistar in the country.

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Liberty Latin America gets OK to buy Telefónica's Costa Rica unit