Sunday, February 17, 2019

FLOW, CWC under new owner

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Barbados Nation:- CABLE & WIRELESS COMMUNICATIONS (CWC) should be under new ownership from today.

The long-time Caribbean telecoms provider is being taken over by Liberty Global, owned by American billionaire John Malone.

Last November, Liberty, which has its headquarters in London, offered to buy CWC in a cash-and-stock transaction valued at £3.5 billion (BDS$10 billion).

It is already the world’s largest international cable television company and one of the largest broadband Internet service providers.

Last Friday in London, it was announced that the delisting and cancellation of CWC shares on the London Stock Exchange would take effect from today.

Last month Liberty’s shareholders approved acquisition of CWC and a statement issued subsequently said: “We expect to complete the acquisition on May 16, 2016.”

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