Cable & Wireless, Panama’s main operator owned by Liberty Latin America, bought Claro Panama for USD 200 million. With this new acquisition, the company would have 2,343,000 mobile lines, surpassing Millicom (Tigo), which had been the market leader until Q2 2021 and owns the main pay TV operator in the country, Cable Onda.
Meanwhile, América Móvil’s company had only registered 760,000 subscribers and a very poor presence in its TV service through DTH. While it was beginning to venture into the deployment of fiber optics, by December 2021 it obtained USD 157 million in revenues.
“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” Balan Nair, CEO of Liberty Latin America, explained about their main goal after the purchase.
“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“, he added.
Recently, Liberty also acquired Telefónica’s operations in Costa Rica. In Panama, after its last purchase, it would be positioning itself as the market leader by surpassing Millicom (Tigo) that had remained at the top with its 2,132,000 lines in Q2, many of which it had inherited after acquiring Movistar in 2019.