Fresh investment likely from C&W take-over
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)
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