Leading international cable company with operations in 14 countries, Liberty Global announced that it has completed the acquisition of Cable & Wireless Communications(CWC) for approximately $7.4 billion. The newly acquired CWC will be integrated as part of Liberty Global's Latin American and Caribbean group (the "LiLAC Group")
John Reid has been appointed as the interim CEO of CWC, taking over from Phil Bentley. John was previously President of CWC’s Consumer Group and also held other high-profile management roles at Columbus Communications and Persona Communications.
The combination of CWC and the LiLAC Group is expected to serve 10 million video, voice, broadband and mobile subscribers in more than 20 countries and is expected to generate over $3.5 billion in revenue, said Liberty Global in a statement.
Mike Fries, CEO of Liberty Global
This is a big moment for us and I couldn’t be more excited about the potential of LiLAC and CWC together. We are joining two high-growth businesses in a region that is both underpenetrated and underserved in broadband, mobile data and pay TV services.
