Eww, they all look the same, GH Argentina, BB Mexico, now this... why don't they keep their money or mix it with all the other countries to make a HUGE season with a HUGE house.
I remember in the East Europe a Big Brother was being aired in three different countries if I'm good, they could do the same with Panama, Argentina and Mexico. (and Venezuela, and Colombia).
You're talking of the Balkans! LOL.
In Latin America it's much more viable than in Europe, as almost everyone speaks the same language: Spanish, the only difference will be in the colloquial expressions and that's pretty much it. The only possible viable way it could work is if hosted in a large continental channel or if several channels of the region join in.
I remember that Latin American Idol was HUGE although it ran for only 4 seasons, and many local channels re-broadcasted what Sony Latam aired in a weekly basis (my country won Season 4 YAAAASSSS!!! - However, winner Martha Heredia is now in jail because of drugs).
Networks like Sony Latam, TNT, Warner Channel, and others can do it. The thing is money wise, BB is expensive to produce anywhere, though. Aaaaand the only two countries that have enough big studio lots where a House can be built are Mexico & Argentina, the latter being the most viable option to be host location if ever done.