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Cable & Wireless to buy Columbus


Cable & Wireless to buy Columbus

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BRITISH TELECOMMUNICATIONS firm Cable & Wireless Communications, parent company of LIME, plans to buy 100 per cent of the equity in Barbados-based Columbus International, operators of Flow, for US$1.85 billion.

CWC said in a statement that it will also assume US$1.17 billion of Columbus debt, taking the total value of the transaction to US$3.02 billion.

Columbus is a leading fibre-based telecommunications and technology services provider in the Caribbean, Central America and the Andean region.

CWC said the move will significantly enhance its growth profile and accelerate the progress towards each of its strategic goals unveiled in May. (PR/NB)