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Liberty Global confirms Cable & Wireless takeover talks
2015-10-23 08:41:00| Telecompaper Headlines
(Telecompaper) Liberty Global has confirmed that it has entered into discussions regarding a possible cash-and-shares offer to take over UK-based telecoms group Cable & Wireless Communications (CWC). The two companies have been in talks for some time about bringing together CWC's strong position in the Caribbean with Liberty's operations in Chile and Puerto Rico, according to unnamed sources cited by the Financial Times, who added that negotiations have centred around a price of USD 5.5 billion, with Liberty also assuming CWC's net debt of around USD 2.6 billion. According to UK law, Liberty now has until 19 November to submit an offer. The possible deal comes after Liberty Global announced that it had ended discussions with Vodafone about an exchange or combination of assets, although it did agree to acquire Belgium's third-largest operator Base for EUR 1.33 billion earlier this year.
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Category:Telecommunications