Cable group Liberty Global has begun distributing shares of a tracking stock for its operations in Latin America and the Caribbean (the LiLAC Group), which will start trading on 02 July. The LiLAC unit includes the operators VTR in Chile and Cablevision in Puerto Rico and the company has identified significant opportunities to expand in Latin America, stressing in its statement that the cable companies are well-positioned to exploit organic growth potential as well as M&A opportunities across the region. Prior to the distribution, USD 100 million in cash was attributed to the LiLAC Group in order to provide liquidity to fund, among other things, ongoing operating costs and acquisitions, said Liberty.
