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Liberty Global considers VTR spin-off
2014-01-13 15:21:00| Telecompaper Headlines
(Telecompaper) Liberty Global is considering a spin-off of its Latin American activities. Its main assets there are 80 percent in the Chile cable and mobile operator VTR and 60 percent of a cable network in Puerto Rico. The company made the announcement in the prospectus of a bond offering by VTR. The group is spinning off VTR's financing operations into a new company, separate from its main European holding company, UPC. As part of this, VTR will issue USD 1.4 billion in notes due 2022 and 2024 in order to pay off UPC credit facilities. Liberty Global said the spin-off of the Latin American operations could take the form of issuing shares in the new company to existing Liberty shareholders. However, the proposal is still at an early stage and no final decision has been taken yet.
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