WOM: The Court confirmed the Reorganization Plan and the National Economic Prosecutor's Office approved the transaction to change the controller

By WOM

This press release was published in English using an automatic translation system

Santiago, March 6, 2025 – WOM SA (“WOM Chile” and, together with its debtor affiliates, the “Company”) is pleased to announce that today, the United States Bankruptcy Court for the District of Delaware has confirmed the Reorganization Plan. This constitutes the most important milestone in the process; it confirms the creditors’ confidence and allows, in less than a year, to begin WOM Chile’s path out of the Chapter 11 process.

Prior to this milestone, on December 20, 2024, the Court authorized the Company to enter into the support agreements for its restructuring with the Ad Hoc Group, then on January 23, 2025, approved the “Disclosure Statement.” Subsequently, the voting process by creditors on the proposed Plan was carried out, which obtained the majorities required for approval.

In addition to the above, dated March 5, 2025, the National Economic Prosecutor's Office (FNE) approved the acquisition of control over WOM Mobile SA by Amundi, BlackRock, Man GLG and Moneda.

Martín Vaca Narvaja, CEO of WOM Chile, said that “Since WOM filed for Chapter 11 in April 2024, we have made rapid and sustained progress in the process, ensuring the operational continuity of the Company. These milestones reaffirm the support of our creditors, the solidity of the Plan we presented and the ongoing support of the Ad Hoc Group. I am deeply grateful for the great work and commitment of the entire team. In less than a year we have successfully navigated our restructuring process, recovered our commercial performance and achieved solid financial results. With the confirmation of the Plan and the approval Resolution by the FNE, our efforts are focused on achieving the exit from Chapter 11 in the coming weeks.”

Pursuant to the Plan and the restructuring transactions contemplated thereunder, WOM Chile will benefit from a strong balance sheet following a $500 million rights offering backed by the AHG and a reduction of its financial debt of over $650 million.