Cable and Wireless Communications Looking for Latin America Acquisitions

Published on: 3rd Mar 2013

­UK based Cable & Wireless Communications (CWC) is looking to expand its operations in Latin America now that it has the funds to finance acquisitions.

The company recently sold its Monaco & Islands division to Bahrain's Batelco for US$680 million and sold its 51% stake in the Macau based telecoms network, CTM for US$750 million.

CWC's remaining operations are now primarily in the pan-America region and following the disposals, the Group's net debt has been reduced to around US$937 million.

CWC's Chief Executive Officer Tony Rice confirmed that the company is looking at possible deals in markets such as Cuba, Puerto Rico and the Dominican Republic. The company is targetting smaller markets and wont invest in countries such as Brazil -- which he said were too big for the small company to deal with.

He also confirmed that any deal would be aimed at landline assets that come with mobile operations rather than mobile-only operators.

"We see our business model in full service," saying that the strategy had proved successful so far.

 

Tags: [cable & wireless communications]