History
On April 3, 2006, Verizon Communications announced it had agreed to sell its stakes in Telecomunicaciones de Puerto Rico, Inc. (TELPRI) and their sole ownership of the main Dominican telephone company Verizon Dominicana, now Claro República Dominicana, to América Móvil of Mexico.
On December 31, 2006, Verizon and América Móvil completed Verizon Dominicana ownership transfer into Mexican hands. After another three months and various litigations upon the Federal Communications Commission, which had advise from the Puerto Rico Telecommunications Board, on March 30, 2007 TELPRI assets were completely acquired by América Móvil. The purchase was closed after an agreement to purchase from Popular, Inc., the government of Puerto Rico and the telephone company employee stock ownership program, the remaining stocks of TELPRI at the same price as Verizon.
To present day, América Móvil is the 100% owner of the company and has rebranded the wireless arm of the company -formerly Verizon Wireless- under their international Claro brand.
As of February 2011 America Móvil has rebranded its wireline (fixed line), broadband DSL, television and dial-up services as Claro. The only services that, for now, remain branded as Claro - Puerto Rico Telephone are business, government or corporate.
Read more about this topic: Claro Puerto Rico
Famous quotes containing the word history:
“Every literary critic believes he will outwit history and have the last word.”
—Mason Cooley (b. 1927)
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)
“We don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)