Liberty Latin America sells Cable and Wireless Seychelles for $104m
Liberty Latin America (LLA) has announced that it has sold its subsidiary Cable & Wireless Seychelles, to a consortium of local investors.
The deal gave Cable & Wireless Seychelles an estimated enterprise value of $104 million on a cash- and debt-free basis. The proceeds from the sale are expected to be used for ‘general corporate purposes.’
“We are proud of what Cable & Wireless Seychelles has accomplished since it was established in 1893 and are very appreciative to the employees for their hard work and commitment over the company’s successful 126-year history,” said Balan Nair (pictured), president and CEO of Liberty Latin America. “Under the leadership of Charles Hammond, Cable & Wireless Seychelles has emerged as a world-class communication services provider, bringing innovative solutions and cutting-edge technology to its customers. We are very pleased to find a consortium of local Seychellois investors with the ability to lead Cable & Wireless Seychelles into its next phase of growth.”
Cable & Wireless Seychelles provides a full range of communication and entertainment services including IPTV, broadband internet, telephony and mobile for residential and business customers across the 115- island country. As of June 30, 2019, Cable & Wireless Seychelles serves a total of 23,500 fixed subscribers and 76,000 mobile subscribers.
Just last month, LLA entered into a definitive agreement to acquire AT&T’s wireless and wireline operations in Puerto Rico and the US Virgin Islands for a total of $1.95 billion. The all-cash deal will enable LLA to offer consumer mobile and B2B services in Puerto Rico and the U.S. Virgin Islands, excluding DIRECTV customers.