RJR News has received reports that Cable and Wireless Communications (CWC) is to purchase Columbus International, in a move that will double the size of its business.
Cable and Wireless Communications is the parent company of regional provider, LIME.
The US$3 billion deal will see CWC take over of all the businesses under Columbus International. These include Columbus Business Solutions, Flow, and Karib Cable.
CWC will pay US$1.9 billion for the Barbados-based business, as well as assume about US$1.2 billion in net debt from the balance sheet of Columbus.
Columbus has about 700,000 residential customers in the Caribbean, Central America and the Andean region. The company provides connectivity to 42 countries in the region, as well as capacity and IT services, corporate data solutions and data centre services.
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Cable & Wireless Communications to purchase Columbus International
7:57 am, Thu November 6, 2014
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