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$77m bid for full control of C&W

SHAWN CUMBERBATCH, [email protected]

$77m bid for full control of C&W

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CABLE AND WIRELESS (West Indies) Limited (CWWI) has launched a near $77 million bid for full control of its Barbados business.

But if it wants the more than 26.8 million common shares (18.93 per cent) outstanding in Cable & Wireless (Barbados) Limited (C&W), the telecommunications company will have to convince some major institutional investors to sell.

Provided that the transaction succeeds, C&W’s shares will be delisted from the Barbados Stock Exchange (BSE).

C&W has more than 141.8 million issued and outstanding common shares. At the moment its immediate parent CWWI owns more than 115 million of these shares, with minority shareholders controlling more than 26.8 million shares. (SC)

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