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Fresh investment likely from C&W take-over

SHAWN CUMBERBATCH, [email protected]

Fresh investment likely from C&W take-over

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BARBADOS IS IN LINE for a fresh injection of investment following yesterday’s US$7.4 billion acquisition of Cable & Wireless Communications (C&W) by Liberty Global plc, the world’s largest cable company.

And Liberty Global chief executive officer (CEO) Michael Fries says it will be business as usual “for the time being” for C&W operations here and in the region, with the Flow brand also expected to be retained.

Fries, and interim C&W CEO John Reid, who replaces outgoing boss Phil Bentley, were speaking yesterday during a teleconference with journalists from the Caribbean and Latin America.

“This is a very exciting day for Liberty Global. We couldn’t be more thrilled to be completing this acquisition which is really a combination of two great companies. We will start the processes for combining the businesses and to bring great value for everybody very shortly,” Fries said. (SC)

Please read the full story in today’s Daily Nation, or in the eNATION edition.