Liberty Global Closes Buy of Cable & Wireless, Focused on Caribbean
Liberty Global closed its acquisition of Cable & Wireless Communications, a deal Liberty said was valued at about $7.4 billion on an enterprise value basis. CWC's business will be attributed to Liberty's Latin American and Caribbean (LiLAC) Group, creating "the…
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leading consumer and business-to-business communications provider in the region," said a Liberty Global news release Monday. The combination serves 20 million video, voice, broadband and mobile subscribers, and is expected to generate more than $3.5 billion in annual revenue, it said. Almost all the countries with CWC-LiLAC Group operations are in the Caribbean basin, except Chile, it said. Mike Fries, Liberty Global CEO, said: "We are joining two high-growth businesses in a region that is both underpenetrated and underserved in broadband, mobile data and pay TV services."