June 24 (Reuters) -

Mexico's America Movil, controlled by the family of

billionaire Carlos Slim, acquired a dominant stake in cable and

mobile phone operator ClaroVTR, which had been shared equally

with Liberty Latin America ( LILA ) , America Movil and LLA said on

Monday.

The Mexican telecommunications giant will transform the

convertible notes it holds in ClaroVTR into shares to obtain a

controlling interest of around 91%. The remaining 9% will be in

the hands of LLA, the joint statement said.

LLA had an option to continue funding ClaroVTR, together

with America Movil, so it would remain a joint

venture, but opted not to exercise that right, according to the

companies.

The conversion is expected to close in the third quarter

of this year.

In September 2021, Claro, a subsidiary of America Movil,

and VTR announced the merger of their operations, focused mainly

on Peru, Chile and Colombia.