Liberty Global Buys Remaining Stake in Chile’s VTR

DENVER: Liberty Global has acquired the remaining 20 percent of the outstanding shares in VTR, which is Chile's largest cable operator.

Liberty Global purchased these shares from a subsidiary of Corp Group Holding Inversiones Limitada in exchange for 10.1 million Liberty Global Class C ordinary shares. The share consideration had a market value of approximately $422 million.

Mike Fries, the CEO of Liberty Global, said: “Based on the solid foundation we have developed with Corp Group over the last few years, VTR will now enter its next phase of growth in the dynamic Chilean market. We would like to thank Alvaro Saieh Bendeck, his son Jorge Andres Saieh and the Saieh family for their ongoing support and the strong relationship and success we have built together.”