Cable & Wireless to buy Barbados-based Columbus Int’l

Last Updated on Thursday, 6 November 2014, 21:12 by GxMedia

San Juan, Nov 6 (EFE).- Britain’s Cable & Wireless Communications PLC plans to buy Barbados-based Columbus International Inc. for $1.85 billion in order to increase its presence in the Caribbean region, CWC said Thursday.

Besides paying $1.85 billion in cash and CWC shares, the purchaser will assume Colombus’ $1.17 billion in debt, according to a statement.

Columbus is a multinational telecommunications and Internet company providing services to more than 700,000 clients in the Caribbean, Central America and the Andean region.

In the Caribbean, Columbus operates under the brand Flow in Jamaica, Trinidad and Tobago, Grenada and Curaçao.

CWC already operates in the region under the LIME brand.

CWC currently provides services in Anguilla, Antigua and Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Grenada, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines and Turks and Caicos. EFE