Cable & Wireless buys Barbados-based Columbus

6th November 2014, Comments 0 comments

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.

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.

© 2014 AFP

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