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Bids, Mergers and Takeovers

CWC receives approval for Columbus acquisition

27 March 2015 16:02

Cable & Wireless Communications announced on 6 November 2014 that it had agreed terms to purchase 100 per cent. of the equity of Columbus International Inc, a leading privately-owned fibre-based telecommunications and technology services provider operating in the Caribbean, Central America and the Andean region, for USD1.85bn.

The Company has now confirmed that it has obtained approval for the Acquisition in Barbados from the Fair Trading Commission.

CWC has agreed, as a condition for the approval, to divest the overlapping, duplicate elements of the combined fibre network in Barbados resulting from the Acquisition which we are confident will attract much interest and provide consumer choice in the island.

Completion of the Acquisition remains subject to the satisfaction or waiver of certain other conditions, as set out in the circular to CWC shareholders dated 19 November 2014, including the receipt of approval from the Barbados Minister for Telecommunications and other relevant approvals.

At 4:02pm: (LON:CWC) Cable Wireless Communications Plc share price was -0.2p at 59.7p

Story provided by StockMarketWire.com

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