10:23 AM EDT, 09/04/2024 (MT Newswires) -- Liberty Latin America ( LILA ) said Wednesday it has closed its acquisition of EchoStar's ( SATS ) spectrum assets in Puerto Rico and the US Virgin Islands, along with roughly 85,000 pre-paid mobile subscribers.

The move follows a review by the US Department of Justice Antitrust Division and clearance by the Federal Communications Commission, the company said.

The purchase price of $255 million will be paid in four annual installments, with the first installment of $95 million paid Wednesday, the company added.

Liberty said it expects to fund the deal via local liquidity sources, including cash on hand.

Shares of Liberty fell 2% in recent trading, while EchoStar ( SATS ) rose nearly 1%.

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