Friday 24 September 2021

Cable & Wireless Comes to Costa Rica

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COSTA RICA BUSINESS NEWS — Cable and Wireless has acquired the company Columbus International, from Lazus SAS, a Costa Rican company that operates in the corporate telecommunications market.

Columbus is a leading fibre-based telecommunications and technology services provider in the Caribbean, Central America and the Andean region.

CW1With this acquisition Cable & Wireless will increase its presence in Central America, adding to Panama, where it ventured after acquiring 49% of the shares of the public operator.

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The Financial Times says Cable and Wireless will pay us$1.9 billion plus assume about us$1.2 billion in net debt from Columbus’ balance sheet, pushing the total value of the acquisition to us$3.1 billion.

This is a transaction that transforms CWC, providing a step-change in growth and returns,” Phil Bentley, CWC’s chief executive is quoted as saying.

Elfinancierocr.com reports that “… The acquisition is part of its new investment strategy that focuses on the segments in which it already has a presence: mobile, convergence of mobile and fixed services; Pay TV; and corporate services and has a backing of $1,050 million in capital.”

‘… The acquisition must now be approved by the regulatory authorities and the test will not be easy. the mobile operator Digicel, with a strong presence in the Caribbean, announced its opposition to C & W’s purchase of Columbus ”

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