Cable and Wireless/Columbus merger finalised

Press release

 Share This On:

PRESS RELEASE – Cable and Wireless Communications, Plc (CWC) announced today that it has completed its US$1.85bn acquisition of 100% of the equity of Columbus International Inc.

Commenting on the completion of the transaction, Chief Executive Officer, Phil Bentley, said: “This is a transformational deal for Cable & Wireless Communications.

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.

“We expect the operating synergies to be significant; together, the new merged company creates the opportunity to invest more, grow faster, and provide an improved customer experience and, most importantly, a development opportunity for our people that either company could never have achieved on their own.

“There has been an extensive and professional regulatory review, with appropriate remedies.  We are pleased we now have the necessary Government support to conclude this important transaction and to start making the financial commitments required to deliver an outstanding customer experience and to enhance the telecommunications infrastructure and economic development of the communities we serve.”

Bentley noted that as part of the integration process, the Company “is undertaking a full review of all the brands we currently operate under, including the Flow and LIME brands as well as the business and wholesale brands,” but added that “no decision has yet been made.”

Commenting on the merger process and next steps, Bentley said, “Most of the markets we operate in have approved our integration plans and therefore today we can start to release some of the US$1.5bn investment monies we have set aside to provide our customers with an unrivalled telecommunications experience, improving coverage, reliability, products and speeds, and providing a welcome boost to both jobs and the economy in the countries in which we operate.

In a small number of markets where we have yet to receive all the necessary approvals required, we cannot commence our integration and investment plans; we will therefore continue to support the local regulatory due process until we have the green light to move forward in those markets.”

(0)(0)
This article was posted in its entirety as received by stlucianewsonline.com. This media house does not correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of stlucianewsonline.com, its sponsors or advertisers.

10 comments

  1. 2 steps forward, 5 steps backward. Smdh
    The more things change the more they remain the same.

    (0)(0)
  2. remeber the days before digicel when c&w had mobile monopoly? an only super rich could afford mobile service lol well we take that step back dark ages here we come

    (0)(0)
  3. Real monopoly of the communication systems again by cable & wireless hope the ntrc will be monitoring them closely. Chewps spectra here I come

    (0)(0)
  4. whole chewe nous par bon. For columbus inc employees i hope you guys can negotiate for union representation. Those employees who left or took the package from cable and wireless to join columbus in....no comments and for the customers like my self who transitioned from cable and cochoney to columbus sell out inc. again whole chew nous par bon. Thank you Mr. Smart for nothing Minister (sustainable development) and NTRC for allowing such monopoly over the broadband internet market. I hope i eh hear nuttin about "bridging the famous digital divide" which you'll use when it is suitable for you guys.now i will not be able to enjoy my 10 mbps for $110.00.. now i have to resort to paying double for the same speed (and thats with horrible customer service).smfh

    (0)(0)
  5. Let the price gouging begin

    (0)(0)
  6. shit....it sounds like we'll have more spanish channels, choops

    (0)(0)
  7. now that we have no competition, cable and wirless, are going to do the same like they did before. Take advantage of the poor. Hang in there for us please digicel

    (0)(0)
  8. I hate monopoly

    (0)(0)
  9. LETS hope the ordinary man benefits from this merger.....

    (0)(0)
  10. innocent bystander

    Well done Phil, We worked together at BG.

    (0)(0)

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.