Subsequent Events

9 Months Ended

Sep. 30, 2023

Subsequent Events

Subsequent Events

144

14.Subsequent Events

On November 5, 2023, we entered into an Asset Purchase Agreement, License Purchase Agreement, and other ancillary transaction agreements with Liberty Latin America (“Liberty”) and its affiliate providing for the sale of certain of our wireless assets in Puerto Rico and the US Virgin Islands (the “Transaction”).  Beginning on the financial closing, which is subject to various closing conditions, including but not limited to regulatory approvals from the FCC and DOJ, we will receive payments totaling $256 million over a three-year period.

The consideration also includes a right for us to receive preferential international roaming rates and credits within Liberty’s footprint.

Either we or Liberty may terminate the Transaction under certain circumstances, including, but not limited to, if the Transaction is not completed within twelve months from signing the agreements, which will automatically be extended for an additional three-month period in the event that the required regulatory approvals have not been obtained.