Cable & Wireless buys Barbados-based Columbus
British telecoms firm Cable & Wireless Communications on Thursday agreed to buy Barbados-based peer Columbus International for $1.
85 billion (1.
48 billion euros).
CWC said in a statement that it will also assume $1.
17 billion of Columbus debt, taking the total value of the transaction to $3.
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.
© 2014 AFP