Trilogy International Partners has agreed to sell a majority stake in Bolivian operator Nuevatel to Balesia Group for an undisclosed fee.
The transaction is subject to customary closing conditions with Trilogy expecting to close the deal in which 71.5% of its shares will be let go by Q2 this year, the company said in a statement.
Nuevatel offers commercial services under the Viva brand in Bolivia. Trilogy International Partners is owned by TIP, a fixed broadband and wireless telecommunications company formed by industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy also provides telecoms services in a subsidiary in New Zealand as well as Bolivia.
Market rival Millicom recently announced it will upgrade infrastructure in key Latin American markets including Bolivia.