CWC to acquire Columbus International
06 November 2014 |
Cable and Wireless Communications (CWC) has agreed to acquire Columbus International for $1.85 billion.
Columbus International is a privately-owned, fibre-based provider operating in the Caribbean, Central America and Andean region, and CWC hopes the acquisition will enhance its growth profile in line with strategic targets announced earlier this year.
“This is a transaction that transforms CWC, providing a step-change in growth and returns,” said CWC CEO Phil Bentley. “Together, we will create the best-in-class quad-play offering in the region, delivered on a superior mobile, fibre and subsea network.”
CWC highlights mobile leadership, fixed-mobile convergence, a reinforced TV offering and an enhanced B2B/B2G offering as the key areas of focus for the company following the acquisition.
The transaction will create an enlarged company, spanning more regions and is also expected to generate greater operating cost and capex synergies.
“Combining our businesses makes both companies stronger, faster and smarter in competing with larger competitors,” said Brendan Paddick, president and CEO at Columbus.
“This transaction reinforces our commitment to transform connectivity in the region, to increase the attractiveness of the region to investors, to support the growth of the communities we serve by making them more globally accessible and competitive and to ensure that our customers always have access to a complete portfolio of products and services."
CWC will also assume Columbus’ existing net debt, which stands at approximately $1.17 billion.
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