Cable & Wireless strengthens Caribbean position with Columbus acquisition
DetailsJuan Fernandez Gonzalez | 06 April 2015
Increasing its presence across the Caribbean, comms titan Cable & Wireless Communications has completed its $1.85 billion acquisition of the total equity of digital cable TV and broadband provider Columbus International.
Columbus International is based in Barbados and provides digital cable television, broadband Internet and digital landline telephony in Trinidad, Jamaica, Barbados, Grenada, St. Vincent & the Grenadines, St. Lucia and Curacao under the brand name Flow and in Antigua under the brand name Karib Cable, reaching a residential and corporate client base of over 700,000 customers.
Through the deal, Cable & Wireless intends to create investment opportunities to grow faster across the region, thanks to the business synergies. The company has already a strong position in the region, through which it has extended from its head-quarters in Panama.
"This is a transformational deal for Cable & Wireless Communications," said CEO Phil Bentley commenting on the deal. "Columbus Communications is an outstanding business; not only do we add significant fibre optic submarine backhaul and terrestrial broadband and TV capability to our leading mobile and legacy copper networks in the Caribbean, but our complementary B2B divisions can now offer geographical focus and a wider product offering in the faster-growing Latin American markets".