Acquisitions Pending Acquisition On October 9, 2019, Leo Cable and Liberty Latin America entered into a stock purchase agreement with certain subsidiaries of AT&amp;T Inc. ( AT&amp;T ) to acquire AT&amp;T s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands (the AT&amp;T Acquisition ) in an all-cash transaction. The AT&amp;T Acquisition companies provide consumer mobile and B2B services in Puerto Rico and the U.S. Virgin Islands, excluding DirecTV customers. The AT&amp;T Acquisition is valued at an enterprise value of $1,950 million on a cash- and debt-free basis, subject to certain adjustments. We intend to finance this acquisition, including related fees and expenses, through a combination of net proceeds from the 2027 LPR Senior Secured Notes , the 2026 SPV Credit Facility and available liquidity. For further information about our debt and available liquidity, see note 9 . The transaction is subject to customary closing conditions, including reviews by the United States Federal Communications Commission ( FCC ) and the Department of Justice ( DOJ ). We currently expect the transaction to close in the second half of 2020. AT&amp;T will provide ongoing support to the companies associated with the AT&amp;T Acquisition under a transition services agreement (the AT&amp;T TSA ) for a period up to 36 months following the closing date of the acquisition. Services under the AT&amp;T TSA include, but are not limited to, (i) wireless core, (ii) technology development, (iii) global technology operations, (iv) wireless engineering, (v) network infrastructure, (vi) supply chain and (vii) finance and sales operations. We may terminate any services under the AT&amp;T TSA upon sixty business days notice to AT&amp;T in accordance with the terms and conditions of the AT&amp;T TSA . 2019 Acquisition UTS . Effective March 31, 2019 , we completed the acquisition of an 87.5% interest in United Telecommunication Services N.V. ( UTS ) for an initial cash purchase price of $162 million , which was subject to certain potential post-closing adjustments, based on an enterprise value of $189 million (the UTS Acquisition ). As noted below, during the first quarter of 2020, the purchase price was reduced by $6 million related to certain post-closing working capital adjustments. During the third quarter of 2019, we increased our ownership interest in UTS from 87.5% to 100% . UTS provides fixed and mobile services to the island nations of Curacao, St. Maarten, St. Martin, Bonaire, St. Barths, St. Eustatius and Saba. The UTS Acquisition was funded through a $170 million draw on the C&amp;W Revolving Credit Facility , as defined in note 9 . We have accounted for the UTS Acquisition as a business combination using the acquisition method of accounting, whereby the total purchase price was allocated to the acquired identifiable net assets of UTS based on assessments of their respective fair values, and the excess of the purchase price over the fair values of these identifiable net assets was allocated to goodwill. A summary of the purchase price and opening balance sheet of UTS at the effective March 31, 2019 acquisition date is presented in the following table. The opening balance sheet presented below reflects our final purchase price allocation (in millions): Cash $ 2.7 Trade receivables 19.0 Other current assets 6.7 Property and equipment 158.4 Goodwill (a) 17.1 Intangible assets subject to amortization 24.0 Other assets 18.2 Accounts payable (27.9 ) Other accrued and current liabilities (31.9 ) Other long-term liabilities (18.8 ) Noncontrolling interest (b) (11.6 ) Total purchase price (c) (d) $ 155.9 (a) The goodwill recognized in connection with the UTS Acquisition is primarily attributable to (i) the ability to take advantage of UTS s existing broadband communications and mobile networks to gain immediate access to potential customers, and (ii) synergies that are expected to be achieved through the integration of UTS with C&amp;W s existing business in Curacao. (b) Amount represents the estimated aggregate fair value of the noncontrolling interest in UTS as of March 31, 2019 . (c) Excludes $3 million of direct acquisition costs incurred during 2019 and 2018. Direct acquisition costs are included in impairment, restructuring and other operating items, net, in our condensed consolidated statements of operations. (d) Pursuant to the purchase agreement, which permits certain post-closing working capital adjustments, the UTS Acquisition purchase price was reduced by $6 million during the first quarter of 2020. This amount was recorded as a receivable in other current assets in our condensed consolidated balance sheet as of March 31, 2020 and was received subsequent to March 31, 2020.