0001712184false00017121842024-06-242024-06-240001712184us-gaap:CommonClassAMember2024-06-242024-06-240001712184us-gaap:CommonClassCMember2024-06-242024-06-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 24, 2024
LIBERTY LATIN AMERICA LTD.
(Exact Name of Registrant as Specified in Charter)
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Bermuda |
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001-38335 |
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98-1386359 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification #) |
Clarendon House,
2 Church Street,
Hamilton HM 11, Bermuda
(Address of Principal Executive Office)
(303) 925-6000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class |
Trading Symbols |
Name of Each Exchange on Which Registered |
Class A Common Shares, par value $0.01 per share |
LILA |
The NASDAQ Stock Market LLC |
Class C Common Shares, par value $0.01 per share |
LILAK |
The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o This Current Report on Form 8-K and the information contained in the Press Release attached hereto as Exhibit 99.1 are being furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section.
Item 7.01 Regulation FD Disclosure
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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Exhibit No. |
Exhibit Name |
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99.1 |
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101.SCH |
XBRL Inline Taxonomy Extension Schema Document. |
101.DEF |
XBRL Inline Taxonomy Extension Definition Linkbase. |
101.LAB |
XBRL Inline Taxonomy Extension Label Linkbase Document. |
101.PRE |
XBRL Inline Taxonomy Extension Presentation Linkbase Document. |
104 |
Cover Page Interactive Data File.* (formatted as Inline XBRL and contained in Exhibit 101) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LIBERTY LATIN AMERICA LTD. |
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By: |
/s/ MICHAEL D. OLIVER |
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Michael D. Oliver |
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Vice President, Global Financial Reporting |
Date: June 24, 2024
EX-99.1
2
exhibit991pressreleasedate.htm
EX-99.1 PRESS RELEASE DATED JUNE 24, 2024
Document
Exhibit 99.1
América Móvil to Acquire a Controlling Interest in ClaroVTR
Mexico City, Mexico and Denver, USA – June 24, 2024: América Móvil S.A.B. de C.V. (“América Móvil” or “AMX”) (BMV: AMX, NYSE: AMX and AMOV) and Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) announce that, subject to obtaining the required approval from the National Economic Prosecutor’s Office of the Republic of Chile (Fiscalía Nacional Económica), América Móvil will be consolidating ClaroVTR into its ongoing operations. As previously disclosed, AMX has been providing funding to ClaroVTR through convertible notes to support the execution of its business plan and for the refinancing of certain bank debt existing at the formation of the JV and Liberty Latin America had the right to catch-up its respective portion of such funding commitments by the middle of this year for ClaroVTR to continue as a 50:50 joint venture.
On June 23, 2024, Liberty Latin America informed AMX it would not be exercising such right. As a result, AMX will convert its outstanding notes held in ClaroVTR into equity resulting (subject to adjustments at closing) in a controlling interest of approximately 91%. LLA will continue to own approximately 9% of the equity of ClaroVTR (subject to final adjustments at closing). The shareholders agreement to be effective upon the conversion of the notes at closing will reflect a governance according to such equity interests. Closing of the conversion is expected during 3Q2024.
Commenting on this development, Daniel Hajj, CEO of América Móvil, said: “We are excited about the prospects of ClaroVTR. Our strong partnership with Liberty Latin America helped establish a converged connectivity provider that serves customers with world-class products and services. We look forward to the prospects of this business.”
Balan Nair, CEO of Liberty Latin America, remarked: “We are confident that this is the right next step for ClaroVTR and in the best interests of Liberty Latin America’s shareholders. América Móvil is a great partner and ClaroVTR has a strong management team in place to lead the business. We have been proud investors in Chile for decades, and while today’s market dynamics are challenging, the long-term outlook is bright.”
About América Móvil
Visit: www.americamovil.com
About Liberty Latin America
Visit: www.lla.com
For more information, contact:
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Liberty Latin America Investor Relations
Kunal Patel
ir@lla.com
Liberty Latin America Media Relations
Kim Larson
llacommunications@lla.com
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América Móvil Investor Relations
Daniela Lecuona
daniela.lecuona@americamovil.com
América Móvil Media Relations
Renato Flores
renato.flores@americamovil.com
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Forward-Looking Statements
This press release contains certain forward-looking statements that reflect the current views and/or expectations of AMX and its management with respect to its performance, business and future events. We use words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “should” and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this press release. AMX is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.