Liberty Latin America Ltd. (NASDAQ: LILA and LILAK, OTC Link: LILAB) has announced that its board of directors has authorized the repurchase of up to USD 100 million of the company´s Class A and Class C shares (the “Program”) over the next two years, the company said.
Under the Program, LLA may acquire, at management´s discretion from time to time, its Class A common shares, Class C common shares, or any combination of Class A and Class C common shares. The repurchases under the Program may be made on the open market at prevailing market prices, in privately negotiated transactions, in block trades, derivative transactions and/or through other legally permissible means, in accordance with applicable rules and regulations. The Program may be suspended or discontinued at any time.
The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. There is no obligation to purchase any specific number of shares pursuant to the Program. The repurchase program will be executed consistent with LLA´s capital allocation strategy.
Liberty Latin America is a communications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil, BTC, UTS and Cabletica. In addition, Liberty Latin America operates a subsea and terrestrial fiber optic cable network that connects over 40 markets in the region.