It’s a done deal.
Cable and Wireless today announced that it has completed its US$1.85bn acquisition of 100 per cent of Columbus International, which trades here as FLOW.
C&W’S Chief Executive Officer Phil Bentley described the deal as “transformational” and suggested that the buyout would deliver big benefits to the consumer.
“The new merged company creates the opportunity to invest more, grow faster and provide an improved customer experience and, most importantly, a development opportunity for our people that either company could never have achieved on their own.”
Last Friday, the Fair Trading Commission (FTC) approved the mega merger but attached several conditions including the implementation of a number of structural changes and the divestment of a number of their assets to an unrelated buyer.