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Cable & Wireless extends longstop date for Columbus acquisition

Mon, 02nd Mar 2015 14:35

Cable & Wireless Communications (CWC) said on Monday it has agreed to extend the longstop date of the acquisition of Columbus International.The longstop date will be extended from 28 February to 15 March.The $1.85bn acquisition of the privately-owned telecommunications and technology company operating in the Caribbean, Central America and the Andean regions was announced in November.CWC expects the deal to increase investment, generate more jobs and provide customers with more mobile networks, faster broadband and more TV choices.Phil Bentley, CWC's chief executive, said at the time of the announcement: "This is a transaction that transforms CWC, providing a step-change in growth and returns."Together, we will create the best-in-class quad-play offering in the region, delivered on a superior mobile, fibre and subsea network."Shares in Cable & Wireless rose 1.03% to 58.9p on Monday at 14:40.