CWC.L Share News (CWC)

LONDON (Alliance News) - Cable & Wireless Communications PLC on Friday said it has received regulatory approval in Trinidad and Tobago and in Barbados for the USD1.85 billion acquisition of Barbados-based telecommunications and technology services group Columbus International Inc.

Under the terms of the regulatory approval provided by the Telecommunications Authority Trinidad and Tobago, Cable & Wireless has agreed to sell its 49% stake in Telecommunications Services of Trinidad and Tobago. As a condition of the approval in Barbados, it will sell duplicated elements of the combined fibre network in Barbados that would result from the acquisition.

Shares in the company are trading down 0.3% at 59.70 pence Friday afternoon.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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