The United Kingdom-based telecommunications company Liberty Global has completed its acquisition of Cable & Wireless Communications in a deal valued at $7.4 billion, the two companies announced last month.
C&W, which was the parent company of Flow in the Virgin Islands and other Caribbean jurisdictions, joins Liberty’s Latin American and Caribbean group, an offshoot that Liberty Global created last July to establish a foothold in the region, according to Bloomberg.
C&W has a presence in 18 Caribbean jurisdictions, while Liberty’s regional operations include Puerto Rico and Chile, according to Liberty.
“By combining our operations, we are creating a unique and well-diversified Latin America and Caribbean investment vehicle, which we believe will enhance long-term equity value for our shareholders,” Liberty Global CEO Mike Fries said of the merger.
The deal was announced in November, approved by the companies’ shareholders in April, and finalised last month.
See the June 2, 2016 edition for full coverage.
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