0001712184false00017121842024-08-012024-08-010001712184us-gaap:CommonClassAMember2024-08-012024-08-010001712184us-gaap:CommonClassCMember2024-08-012024-08-01

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): August 1, 2024
 
LIBERTY LATIN AMERICA LTD.
(Exact Name of Registrant as Specified in Charter)
 
Bermuda 001-38335 98-1386359
(State or other jurisdiction
of incorporation)		 (Commission File Number) (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:
Title of Each ClassTrading SymbolsName of Each Exchange on Which Registered
Class A Common Shares, par value $0.01 per shareLILAThe NASDAQ Stock Market LLC
Class C Common Shares, par value $0.01 per shareLILAKThe 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



Item 7.01    Regulation FD Disclosure

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 9.01    Financial Statements and Exhibits

(d)        Exhibits.

Exhibit No.Exhibit Name
99.1
101.SCHXBRL Inline Taxonomy Extension Schema Document.
101.DEFXBRL Inline Taxonomy Extension Definition Linkbase.
101.LABXBRL Inline Taxonomy Extension Label Linkbase Document.
101.PREXBRL Inline Taxonomy Extension Presentation Linkbase Document.
104Cover 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.
 
 LIBERTY LATIN AMERICA LTD.
  
 By:/s/ MICHAEL D. OLIVER
 Michael D. Oliver
Vice President, Global Financial Reporting
 
Date: August 1, 2024

,
llaandmillicomlogoa.jpg
Exhibit 99.1
LIBERTY LATIN AMERICA AND MILLICOM AGREE TO COMBINE OPERATIONS IN COSTA RICA
TRANSACTION TARGETS GREATER INVESTMENT IN FIBER NETWORKS TO DELIVER ENHANCED SERVICES AND CUSTOMER EXPERIENCE
Denver, Colorado and Luxembourg – August 1, 2024: Liberty Latin America Ltd. (“Liberty Latin America” or “LLA”) (NASDAQ: LILA and LILAK, OTC Link: LILAB) and Millicom International Cellular S.A. (“Millicom”) (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) today announced that the parties have entered into an agreement to combine the companies’ respective operations in Costa Rica. Under the terms of the all-stock agreement, Liberty Latin America and its minority partner in Costa Rica will hold an approximate 86% interest and Millicom 14% in the joint operations, with the final ownership percentage confirmed at closing.
As of December 31, 2023, the combined operations had Adjusted OIBDA1 of approximately $255 million2, more than 440,000 broadband subscribers, and net debt of $533 million3.

The transaction reinforces the parties’ commitment to Costa Rica by creating the opportunity for a scaled platform and accelerated investments in fiber network expansion. In a market that is undergoing rapid technological advancements with the deployment of fiber networks by multiple operators, this combination would increase fiber competition and promote high-quality, good value services and access to the digital economy for all Costa Ricans.

Balan Nair, President and CEO of Liberty Latin America, commented, “Costa Rica is a great country to operate in and Liberty Costa Rica is a strong business for us. By combining Liberty and Tigo, the fixed operations will accelerate the transition to FTTH and will enable us to deliver exceptional high-speed services for consumers, provide enhanced customer experiences, drive innovation, and offer growth opportunities for our people. With this transaction, Liberty Costa Rica will continue to be a leading connectivity operator in the market.”

Mauricio Ramos, Chair, Millicom, said, “Our combined operations would significantly benefit the telecommunications sector by enhancing fiber network investment to help accelerate Costa Rica's technological evolution in a highly competitive market. This merger is expected to generate new efficiencies and improve commercial offerings, providing customers with access to mobile services and premium content. It creates a stronger, more competitive entity with high investment capacity to meet the accelerated technological changes, network expansion, and service improvements, ensuring that long-term market conditions remain competitive while maintaining high-quality and valuable services for our customers in Costa Rica.”

The transaction is subject to customary closing conditions, including regulatory authorizations, and we expect the transaction to be completed during the second half of 2025.

Liberty Latin America was advised by JP Morgan, while Millicom was advised by Aldo J. Polak and FTI Consulting.



    image_0.jpg
About Liberty Latin America
Visit: www.lla.com

About Millicom
Visit: www.millicom.com

For more information, contact:
Liberty Latin America

Investor Relations
Kunal Patel, ir@lla.com

Media Relations
Kim Larson, llacommunications@lla.com

Millicom

Investor Relations
Michel Morin, investors@millicom.com

Media Relations
Sofia Corral, press@millicom.com
1Based on the combined Adjusted OIBDA (defined as operating income before depreciation and amortization, share-based compensation, provisions and provision releases related to significant litigation and impairment, restructuring and other operating items) for the fiscal year ended December 31, 2023 of LLA’s Costa Rican operation in accordance with accounting principles generally accepted in the United States (U.S. GAAP), and Millicom’s Costa Rican operation in accordance with International Financial Reporting Standards (“IFRS”), as adjusted to include certain lease costs that are capitalized as tangible assets under IFRS 16 in accordance with Millicom’s IFRS accounting policies and that will be expensed as an operating cost in accordance with U.S. GAAP.

2140 billion Costa Rica Colons at representative exchange rate of 545:1 as of December 31, 2023.
3290 billion Costa Rica Colons at representative exchange rate of 545:1 as of December 31, 2023.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the timing, benefits and expected impact of the transaction and other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include, but are not limited to, events that are outside of our control, such as natural disasters and pandemics, our ability to obtain regulatory approvals for the transaction as well as satisfying other conditions to closing, as well as other factors detailed from time to time in our filings with the Securities and Exchange Commission, including our most recently filed Form 10-K and Form 10-Q. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.



v3.24.2.u1
Document and Entity Information
Aug. 01, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Aug. 01, 2024
Entity Registrant Name LIBERTY LATIN AMERICA LTD.
Entity Central Index Key 0001712184
Amendment Flag false
Entity Incorporation, State or Country Code D0
Entity File Number 001-38335
Entity Tax Identification Number 98-1386359
Entity Address, Address Line One Clarendon House
Entity Address, Address Line Two 2 Church Street
Entity Address, City or Town Hamilton
Entity Address, Postal Zip Code HM 11
Entity Address, Country BM
City Area Code 303
Local Phone Number 925-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Class A  
Entity Information [Line Items]  
Title of 12(b) Security Class A Common Shares, par value $0.01 per share
Trading Symbol LILA
Security Exchange Name NASDAQ
Class C  
Entity Information [Line Items]  
Title of 12(b) Security Class C Common Shares, par value $0.01 per share
Trading Symbol LILAK
Security Exchange Name NASDAQ
Liberty Latin America (PK) (USOTC:LILAB)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024 Plus de graphiques de la Bourse Liberty Latin America (PK)
Liberty Latin America (PK) (USOTC:LILAB)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024 Plus de graphiques de la Bourse Liberty Latin America (PK)