Cariola counsels Claro Chile on jv with VTR
Cariola Díez Pérez-Cotapos has counselled América Móvil (Claro Chile) on a joint venture with Liberty Latin America (VTR) to combine their respective operations in Chile on a 50:50 ratio.
This transaction was closed on 6 October 2022, following regulatory approval granted by the Chilean National Economic Prosecutor’s Office (FNE) on 5 October 2022.
As a result of this transaction, the operations of VTR, a leading provider of high-speed fixed consumer products such as broadband and pay-TV services, where it connects close to 3 million subscribers across the country, and Claro Chile, a Chilean telecommunications service provider with more than 6.5 million mobile customers, will be combined to diversify products and create a capital structure that will enable significant investment for the expansion of the fixed fibre footprint and to be at the forefront of 5G mobile delivery.
Freshfields Bruckhaus Deringer also acted as US counsel to América Móvil; while Carey and Baker Botts advised VTR in Chile and the US, respectively; on competition matters VTR was advised by Ferrada Nehme, and Claro Chile was advised by Pellegrini & Rencoret.
Cariola’s team comprised partners Juan Pablo Matus (pictured left), Tomás Vidal (pictured centre) and Rodrigo Lavados (pictured right), senior associates Sergio Balharry and Daniela Fierro and associates Josefa Álvarez, José Tomás Espinosa and Javiera Díaz.