LONDON – UK-based international cable company Liberty Global has announced plans to buy Cable & Wireless Communications (CWC) for $5.3 billion in stock.
Liberty Global said that the combined operations will offer “significant synergy opportunities” as well create a regional platform “well-positioned to exploit the fragmented telecom and pay television landscape.”
“The acquisition of Cable & Wireless represents a watershed moment for our recently created LiLAC platform”, said Liberty Global CEO Mike Fries, in the news release. “It will add significant scale and management depth to our fast-growing operations in Latin America and the Caribbean, while creating a new regional consumer and B2B powerhouse. Upon completion, the combined business will serve 10 million video, data, voice and mobile subscribers, with leading positions across multiple markets.”
Completion of the acquisition is subject to shareholder approvals, certain regulatory approvals and court sanction of the scheme of arrangement.
