LatAm 2015

AdvancedTelevision LatAm Market Briefing 2015 Liberty Global launches LiLAC tracking Stock C able MSO Liberty Global has completed its previouslyannounced distribution of the tracking stock for its operations in Latin America and the Caribbean (the LiLAC Group) to shareholders. The ordinary shares began trading on July 2, 2015. The LiLAC Class A (LILA) and Class C (LILAK) ordinary shares will trade on NASDAQ, and the LiLAC Class B (LILAB) ordinary shares will trade on OTC Link. The Liberty Global Class A, Class B and Class C ordinary shares will continue to trade on NASDAQ under the symbols LBTYA, LBTYB and LBTYK, respectively. Mike Fries, CEO of Liberty Global (right), described the launch of the LiLAC tracking stock as “an exciting event”, which the company believed would enhance long-term equity value for shareholders. “Our cable operations in Chile and Puerto Rico are two of the most advanced platforms in the region. Both businesses have consistently delivered strong financial results and should continue to generate mid- to high-single-digit rebased OCF growth going forward. LiLAC is also uniquely positioned to exploit the highly fragmented landscape characterised by low broadband and pay-TV penetrations.” The LiLAC Group tracking stock forms a ‘pure-play’ cable stock focused on VISIT ALPHA AT ABTA | BOOTH F5 Latin America and the Caribbean, giving shareholders the opportunity to invest directly in the region. The LiLAC Group initially has attributed to it Liberty Global’s Chilean business, VTR, the largest cable operator in Chile, as well as its 60% interest in the largest cable company in Puerto Rico, Liberty Cablevision. The entities comprising the LiLAC Group also have $100 million of cash provided by Liberty Global in order to provide liquidity to fund, amongst other things, ongoing operating costs and acquisitions. Following the completion of the Choice acquisition on June 3, 2015, LiLAC now passes over 4m homes, serving approximately 3.4m revenue generating units (RGUs) and generating over $1.2 billion of annual revenue.