Liberty Latin America, a leading communications company, which operates in Chile under the consumer brand VTR, and América Móvil, the parent company of Claro Chile, announced that they had received approval from Chile's National Economic Prosecutor's Office (FNE) and completed the transaction to combine their respective operations in Chile to form a 50:50 joint venture (JV). You can read more about the announcement in our press release here.
The new company will be formed in equal parts by VTR and Claro Chile and will have a board of eight people, four appointed by each parent company, who will govern the organization. Both companies will have equal rights in corporate governance, and neither will have control over the other.
With the FNE’s approval and the completion of the transaction, the two companies will begin an integration process to form ClaroVTR.
No. Both companies will continue to maintain their customer relationships separately as they have done until now in the Chilean market. Should any changes be made in the future, customers will be informed in advance.
No. For now, they will continue to be clients of the company with which they have contracted their services until the new joint venture announces the integration of services.
Two world-class multinationals are joining forces to create a new company that will inject greater competitiveness into the industry with cutting-edge products and services, first-class networks, and thus, more excellent connectivity and digital development in the country.
We aim to enhance our customers' connectivity experience and strengthen Chile's digital development. Customers will benefit from the quality of services delivered by two international companies that will combine their knowledge and management capacity to deliver the best service experience.