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Liberty Global backs away from plan to acquire Millicom in LATAM

Well that was quick. Liberty Latin America has already backed away from plans to acquire Millicom International Cellular, just a week after discussions were confirmed. But given the divestment of operations in Liberty Global’s core European markets, John Malone will be seeking an alternative route for his Latin American and Caribbean growth ambitions, with operators small, medium and large across the continent now in the firing line. Don’t slash the odds on Liberty Latin America and Millicom reigniting merger negotiations just yet, however. So, Liberty Latin America says it failed to secure enough support from Millicom management for the proposed $7.6bn takeover. No surprises there, considering Millicom’s core mobile business has been growing pretty steadily, while dipping its toes into…

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