Liberty shareholders greenlight CWC acquisition

21 Apr 2016

Shareholders of UK-based cable group Liberty Global have approved proposals to acquire the outstanding shares of pan-Caribbean telecoms operator Cable & Wireless Communications (CWC). In November last year, Liberty announced that it had made a recommended offer for all outstanding – and to be issued – shares of CWC. Pursuant to the offer, CWC will be acquired in exchange for Liberty Global shares, in a ‘scheme of arrangement’ that values the other group at GBP3.5 billion (USD5.3 billion), or an implied price of GBP0.78 per CWC share. CWC’s shareholders are due to consider the proposed acquisition on 28 April and, if the plan is approved, Liberty expects to complete the takeover on 16 May.

United Kingdom, Cable & Wireless Communications (CWC, incl. Columbus Int.), Liberty Global (incl. LGI)