Shares in Cable and Wireless Communication soar by 21%

Shares in Flow Jamaica's parent company, Cable and Wireless Communication have soared 21 per cent after it confirmed it was in takeover talks with US cable company Liberty Global. 

Liberty Global has not formally announced its offer and has until November 19 to decide if  it will. 
The deal would allow Liberty Global to expand its reach in the Caribbean where it lacks a mobile phone presence. 
Cable & Wireless said the deal could be a combination of  cash and shares. 
Liberty Global which is owned by U.S. billionaire, John Malone, currently has a 13 percent stake in Cable and Wireless.
He gained the stake as part payment for selling his holdings in Columbus International to Cable and Wireless last year.

comments powered by Disqus
More Stories
Most Popular
Tropical Depression 9 strengthening as it...
Public sector workers to begin receiving...
Tropical Storm Ian now producing rain in...