Newspaper article International New York Times

Liberty Global Agrees to Acquire Cable & Wireless

Newspaper article International New York Times

Liberty Global Agrees to Acquire Cable & Wireless

Article excerpt

The deal will expand the presence of the John Malone company across the Caribbean and Latin America.

Liberty Global, the European cable and wireless operator controlled by John C. Malone, has agreed to buy the British telecommunications company Cable & Wireless Communications for $5.5 billion.

The move Monday follows an announcement last month that the companies were in discussions about a potential takeover that would expand Liberty Global's presence across the Caribbean and Latin America.

Under the terms of the deal, Liberty Global said it had offered $1.32 for each Cable & Wireless share, including a one-time 4.5 cent dividend to be paid once the transaction closed.

The acquisition of Cable & Wireless, which traces its roots to 1852, "will add significant scale and management depth to our fast- growing operations in Latin America and the Caribbean," Liberty Global's chief executive, Michael T. …

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