Cable & Wireless buys Columbus Intl

Thursday, November 06, 2014

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LONDON (AFP) - British telecoms firm Cable & Wireless Communications, parent company of LIME, on Thursday agreed to buy Barbados-based peer Columbus International, operators of Flow Jamaica, for US$1.85 billion.
CWC said in a statement that it will also assume US $1.17 billion of Columbus debt, taking the total value of the transaction to US $3.02 billion.
Privately-owned Columbus is a leading fibre-based telecommunications and technology services provider in the Caribbean, Central America and the Andean region.
London-listed CWC will pay $707.5 million in cash, with the rest in shares. It will fund the acquisition via a share placing totalling ten percent of the group.



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