AT&T Completes Sale of Puerto Rico, USVI Operations to Liberty Latin America
Monday, November 02, 2020 | Comments

AT&T announced that it had completed the sale of its wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands (USVI) to Liberty Latin America. The transaction includes employees, network assets and spectrum, real estate and leases, more than 1 million wireless subscribers and contracts.

“This is a great day for Liberty Latin America, the employees that will be joining us from AT&T, and most importantly the consumers and businesses in Puerto Rico and the U.S. Virgin Islands who will realize the benefits of this transaction,” said Nalan Blair, president and CEO of Liberty Latin America. “By creating the leading integrated provider, we will deliver added value to customers through expanded product offerings, more resilient infrastructure and world-class customer service levels.”

AT&T will retain DirecTV and certain global business customer relationships and First Responder Network Authority responsibilities and relationships. Eligible first responders subscribing to FirstNet in Puerto Rico and the USVI will still have access to the benefits and capabilities of the FirstNet platform.

Under the sale agreement, AT&T will receive $1.95 billion in cash. AT&T said it plans to use the proceeds to redeem all of the preferred interests in subsidiary PR Holdings.

The completion comes after the companies received approval from both the U.S. Department of Justice (DOJ) and the FCC. The DOJ initially opposed the sale in court, arguing that the acquisition would eliminate most competition for fiber-optic-based telecommunications services in Puerto Rico. To resolve that case, Liberty entered into agreement with the DOJ, agreeing to divest some of its business-to-business operations in Puerto Rico.

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