LiLAC Group (LILA, Financial) is a tracking stock distributed by Liberty Global with respect to its businesses in Latin America and the Caribbean. LiLAC’s stock has struggled throughout the last year as management revealed additional unanticipated headaches with the May 2016 acquisition of Cable & Wireless Communications. After meeting with management, we believe the company understands the nature of the problem and is set to grow from this reset base. We anticipate that in the coming quarters, LiLAC will demonstrate the benefits they saw in this acquisition, beginning with identifying operating synergies for investors. Management further demonstrated their confidence in their revised outlook by announcing a $300 million stock repurchase authorization.
From Wally Weitz's first-quarter 2017 Partners III Opprtunity Fund shareholder letter.
