Bentley: No need for concern on pending Liberty bid
The head of Cable & Wireless Communications (CWC) Phil Bentley is not prepared to say much on the pending Liberty Global bid to acquire the company.
However he says there is no reason for Barbadians to be concerned, adding that the interest by Liberty officials in CWC was “a compliment”.
Liberty Global, which is owned by billionaire John Malone, has until November 15 to put a firm bid on the table after signalling its intention to acquire C&W for cash and shares.
Speaking to Barbados TODAY via teleconference from his London-based office Bentley said while Liberty Global was based in Europe with operations in Puerto Rico and Chile, there were no overlapping of services between that company and Cable & Wireless.
“So there is no impact if you like, or reason for any concern . . . because there is no overlap whatsoever in the operations of the two companies,” he said, adding that the Caribbean still had opportunities to grow the smartphone and broadband markets.
“I guess it is a compliment that they are interested in talking to us, but beyond that I can’t say much. What I would emphasize is there are literally no overlap operations between Liberty and Cable & Wireless today,” Bentley.