US telecommunications company Liberty Global is looking to acquire more telecommunications operators in Latin America after the purchase of British telco Cable & Wireless Communications (CWC) for USD 5,300 million, according to CEO Michael Fries.
“We’re running the business for five to ten years, not only in the short term,” Fries told the specialized local media Light Reading, adding that Liberty had more mergers and ambitions in mind, both in Latin America and Europe.
Speaking at the Citi 2016 Global Internet, Media & Telecommunications Conference in Las Vegas, the executive said that the acquisition of CWC represents “an excellent deal” for the company in a prosperous region that is now growing faster than North America or Europe.
Liberty has about 1.5 million customers in Puerto Rico (Cablevision) and Chile (VTR) and in July launched a tracking stock for its operations in the region, the Lilac Group, which could become an independent entity. “Over time we’re likely to spin that business, but it will be part of the mother ship right now”, said Fries.