Liberty Global Plc. to buy Cable & Wireless Communications for $8.5 billion |20 November 2015

Liberty Global Plc., the world’s largest international cable television company, is finalising negotiations to buy Cable & Wireless Communications (CWC) for the sum of approximately $8.5 billion.

“The Board of Cable & Wireless Communications (CWC), the parent company of Cable & Wireless (Seychelles) has announced that having been approached directly by Liberty Communications Plc. (Liberty Global) it has been concluded that it is in the long term best interest of the company, its shareholders, employees and customers to recommend the sale of Cable & Wireless Communications for an overall price of approximately $8.5 billion,” a communiqué from Cable & Wireless said yesterday.

Liberty Global, which boasts nearly 27 million customers, offers a wide range of advanced broadband Internet, voice, and television services to its customers, including B2B services, services also offered by Cable & Wireless (Seychelles). “With this combining of forces by Cable & Wireless Communications and Liberty Communications Plc. complements of both companies to be a truly World Class global player, materially improving the companies’ ability to offer leading products and services to customers in the markets being served. Both companies share the same philosophy of investment in superior networks, leading technology, unrivalled content, and offering great products and service for all its customers,” said the communiqué.

Before finalisation of the deal, work needs to be completed through shareholder and regulatory processes and information about the progress will be relayed in due course.

Cable & Wireless (Seychelles) has meanwhile re-assured its customers that they should expect the normal high level of service that they have been accustomed to from the company.