Liberty Global completes Cable & Wireless $7.4BN buyout


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Joseph O'Halloran

| 17 May 2016




In what the cable giant believes will create the leading TV, broadband and telecoms firm in Latin America and the Caribbean, Liberty Global has completed its acquisition of Cable & Wireless.



cable and wireless 17 May 2016The transaction is valued at approximately $7.4 billion and Liberty says that the combined entity of CWC and its LiLAC Group will serve ten million video, voice, broadband and mobile subscribers in over 20 countries. CWC will add 474,000 video customers to the LiLAC Group in the region for a total of 1.767 million.

Liberty Global expects this estate to generate over $3.5 billion of revenue on an annualised basis, and is confident that it will become the leading platform for further consolidation in Latin America and the Caribbean. “This is a big moment for us and I couldn’t be more excited about the potential of LiLAC and CWC together,” commented CEO Mike Fries.

“We are joining two high-growth businesses in a region that is both underpenetrated and underserved in broadband, mobile data and pay-TV services. By combining our operations, we are creating a unique and well-diversified Latin America and Caribbean investment vehicle, which we believe will enhance long-term equity value for our shareholders.”