Liberty Global is poised to make a $5 billion bid for Cable & Wireless Communications (CWC), in a move that would extend its influence to the Caribbean.
CWC went it alone by confirming talks were taking place, though the statement went little further, other than to declare it was being made without the prior knowledge of Liberty.
A short while later, Liberty Global issued its own statement saying: “Liberty Global confirms that it is in discussions with the board of CWC regarding a possible offer for the entire issued and to be issued share capital of CWC.”
No formal offer has so far been tabled for CWC that has a market capitalisation of £2.6 billion.
Last year, CWC purchased Columbus International Inc in which Liberty chairman John Malone held a stake, resulting in him gaining a 13% voting share in CWC.
