Discussions are under way regarding a potential cash-and-stock bid by Liberty although talks could still fall apart before an agreement is reached.
The move would enable the combined entity to increase its presence in the Caribbean. Liberty Global, owned by billionaire John Malone, has a dominant position in Latin America and has sought expansion plans in the Caribbean.
Liberty Global has until November 19 to make a decision as to whether it will make an offer. Malone acquired a 13% stake in Cable & Wireless Communications after it purchased Bahamas-based fibre-based Columbus International.
Cable & Wireless Communications has approximately 3.7 million mobile subscribers, 1.1 million fixed-line subscribers and 388,000 broadband customers as of March 2014.
