C&W buys Flow

Cable & Wireless Communications Plc (CWC) agreed to acquire cable TV and Internet provider Columbus International Inc. to expand in the Caribbean and Central America. The deal also gives billionaire John Malone a stake in the enlarged company.

Cable & Wireless will pay $707.5 million in cash and sell 1.56 billion new shares, as well as raise additional debt to finance the $1.85 billion deal, the London-based company said in a statement today. Malone owns 22 per cent of Columbus through one of his private companies and has amassed an international pay-TV empire that stretches across countries from Hungary to the U.K. to Chile.

Chairman of Cable and Wireless Communications (CWC), Sir Richard Lapthorne (centre) congratulates Chairman and CEO of Columbus International Inc. Brendan Paddick following the announcement in London earlier today. Looking on is Phil Bentley, CEO of CWC.
Chairman of Cable and Wireless Communications (CWC), Sir Richard Lapthorne (centre) congratulates Chairman and CEO of Columbus International Inc. Brendan Paddick following the announcement in London earlier today. Looking on is Phil Bentley, CEO of CWC.

“This is a game changer for Cable & Wireless — it puts us very much back on the map,” Chief Executive Officer Phil Bentley said on a conference call today. “This a great opportunity for us to build scale and become the dominant player” in bundled TV, Internet and phone services and business-to-business.

The transaction is expected to add to earnings in the second year after completion. Cable & Wireless will also assume Columbus’s debt of $1.17 billion as of June 30. Closely held Columbus provides broadband services in 17 countries throughout the Caribbean, Latin America and the Seychelles.

Columbus adds a significant pay-TV operation and so-called next-generation fiber network to Cable & Wireless’s existing businesses, Bentley said.

Cable & Wireless fell 6.3 per cent to 45.85 pence at 8:42 a.m. in London, giving the company a market value of 1.16 billion pounds ($1.9 billion).

Through international cable company Liberty Global Plc (LBTYA), Malone already owns 60 per cent of Caribbean cable and broadband provider Liberty Cablevision of Puerto Rico LLC. With a net worth of $7.4 billion, according to the Bloomberg Billionaires Index, Malone also owns Liberty Interactive Corp. and Liberty Media Corp., which has share interests in the Starz pay-TV channel, Live Nation Entertainment Inc. and Viacom Inc.

Cable & Wireless was formed in 2010 in a company split that created Cable & Wireless Communications and Cable & Wireless Worldwide. The latter was acquired by Vodafone Group Plc (VOD) in 2012. (Bloomberg News)

55 Responses to C&W buys Flow

  1. Adonna Maynard
    Adonna Maynard November 6, 2014 at 9:05 am

    what is this stupse

    Reply
  2. Sober Child
    Sober Child November 6, 2014 at 9:08 am

    NOOOOOOO! They shouldn’t be allowed to do this! That’s a MONOPOLY

    Reply
  3. Daniel Burton
    Daniel Burton November 6, 2014 at 9:09 am

    Monopoly is not a game!

    Reply
  4. Glenn Damon Clarke
    Glenn Damon Clarke November 6, 2014 at 9:10 am

    I cant cope 🙁

    Reply
  5. Jason Greenidge
    Jason Greenidge November 6, 2014 at 9:10 am

    If you can’t beat them… Buy them!!!

    Reply
  6. Peggy RockClarke
    Peggy RockClarke November 6, 2014 at 9:11 am

    Back at square 1… Run from it, back into it…

    Reply
  7. Lynda Bonnett
    Lynda Bonnett November 6, 2014 at 9:12 am

    wth……..i will not like to do buisness with c&wagain…they rob me blind

    Reply
  8. Lynda Bonnett
    Lynda Bonnett November 6, 2014 at 9:12 am

    wth……..i will not like to do buisness with c&wagain…they rob me blind

    Reply
  9. Treasaigh BruStar
    Treasaigh BruStar November 6, 2014 at 9:12 am

    Well I will be disconnecting my service now for sure…

    Reply
  10. Jeanne Marie Maycock
    Jeanne Marie Maycock November 6, 2014 at 9:14 am

    Flowing back to C&W. Lol

    Reply
  11. Jerry Sobers
    Jerry Sobers November 6, 2014 at 9:16 am

    ???

    Reply
  12. Shellyann Neal
    Shellyann Neal November 6, 2014 at 9:16 am

    I was never hasty to switch to FLOW. Let new companies establish themselves first before we all jump on the band wagon of change. Look at Net 2 View and Sunbeach and A T & T. Could have seen this coming a mile off. FLOW services still run through C & W so it makes sense.

    Reply
  13. Shellyann Neal
    Shellyann Neal November 6, 2014 at 9:16 am

    I was never hasty to switch to FLOW. Let new companies establish themselves first before we all jump on the band wagon of change. Look at Net 2 View and Sunbeach and A T & T. Could have seen this coming a mile off. FLOW services still run through C & W so it makes sense.

    Reply
    • Janice Linton
      Janice Linton November 6, 2014 at 12:47 pm

      Yup, was waiting for the dust to settle now look what happen

      Reply
  14. Faith Oh
    Faith Oh'cee November 6, 2014 at 9:16 am

    I coulda smell this rat everysince. Them just let FLOW set up so it look like we had an option but that was the plan all along. Stupse. People talk about how good bim is compared to the states and them other big countries but this bs couldn’t happen in them places.

    Reply
  15. Faith Oh
    Faith Oh'cee November 6, 2014 at 9:19 am

    LIME STINKS, DIGI PRICES TO HIGH AND THE ONLY REASON DIGI HOLD OUT IS BECAUSE THE OWNER DON’T LIKE DEALING WITH BRITISH COMPANIES AND C&W WAS BRITISH.

    Reply
  16. Adrian Richards
    Adrian Richards November 6, 2014 at 9:19 am

    we cant win for losing

    Reply
  17. Nyckee McDowall
    Nyckee McDowall November 6, 2014 at 9:21 am

    it would had to belong to them in the 1st place, de telephone, light, Water and tv will alway remain de same bout hey! the more things Change the more they stay the Same….

    Reply
  18. Cecilia Alexander
    Cecilia Alexander November 6, 2014 at 9:21 am

    C&W buy flow…haha …omg

    Reply
  19. Jason Greenidge
    Jason Greenidge November 6, 2014 at 9:24 am

    This is the best survival business tactic of all times…. Buy out the main competition

    Reply
  20. Jack O
    Jack O'neal November 6, 2014 at 9:29 am

    What is this I really hearing, looks like android boxes will sell more now.All ya do ya can get away from slime.

    Reply
  21. Adana Skeet
    Adana Skeet November 6, 2014 at 9:30 am

    I dnt even think it’s about whatever upgrades and better service or technology they come up with also anymore..we the people just sick and tired of you all for all of these years..henced why we switched…..now we gotta go pay our bills with ben up faces

    Reply
    • Sober Child
      Sober Child November 6, 2014 at 11:36 am

      The better wte is just PR talk for “oh you thought you got away huh, now you back with us..like it or don’t have Internet period”

      Reply
  22. Feroz Khan
    Feroz Khan November 6, 2014 at 9:35 am

    Hassan Taylor Rashid Rice

    Reply
  23. Alicia Padmore
    Alicia Padmore November 6, 2014 at 9:36 am

    Lol oh geez now nothing bout here ain’t going right

    Reply
  24. Hassan Taylor
    Hassan Taylor November 6, 2014 at 9:37 am

    Lol. This is why I never switched to flow. This is just like Caribbean star and liat.

    Reply
  25. Samantha Trotman
    Samantha Trotman November 6, 2014 at 9:38 am

    Well no more flow for me disconnecting everything.

    Reply
  26. Ni Cole
    Ni Cole November 6, 2014 at 9:44 am

    Stupse

    Reply
  27. Gabriela Paesano
    Gabriela Paesano November 6, 2014 at 9:49 am

    Does this mean that customers will be FLOWing back to C&W??

    Reply
  28. Johann Francis
    Johann Francis November 6, 2014 at 9:50 am

    So let me understand this LIME spent 100 million upgrading to fiber to then turn around and buy FLOW? Well well

    Reply
  29. Stacy Angel
    Stacy Angel November 6, 2014 at 9:51 am

    lol

    Reply
  30. Sober Child
    Sober Child November 6, 2014 at 9:54 am

    So I know a few employees that left C&W to work at Flow because of bad blood..I guess them gonna be hitting that bread line now

    Reply
  31. Jennifer Downes
    Jennifer Downes November 6, 2014 at 9:56 am

    Business as usual. Don’t be so alarmed

    Reply
  32. Daniel Polonis
    Daniel Polonis November 6, 2014 at 10:01 am

    like it wasn’t going to happen

    Reply
  33. Trisa Lawrence
    Trisa Lawrence November 6, 2014 at 10:10 am

    Don’t be fooled guys flow was always lime smfh

    Reply
  34. Jacqueline Holder
    Jacqueline Holder November 6, 2014 at 10:11 am

    Smh

    Reply
  35. Rebecca Trotman
    Rebecca Trotman November 6, 2014 at 10:13 am

    Stupse

    Reply
  36. Adana Skeet
    Adana Skeet November 6, 2014 at 10:13 am

    Hmmmmmm @ sober child

    Reply
  37. Patricia Corbin
    Patricia Corbin November 6, 2014 at 10:15 am

    COMMUNICATIONS IN BARBADOS HAS COME FULL CIRCLE. I HOPE WE ARE BACK TO THE DAYS WHEN FAULTS WERE SPEEDILY DEALT WITH AND SERVICE WAS A PRIORITY.

    Reply
  38. Michelle Ward-Pooler
    Michelle Ward-Pooler November 6, 2014 at 10:16 am

    Come again??

    Reply
  39. Jan Wiggins
    Jan Wiggins November 6, 2014 at 10:16 am

    Stupse. …..from d frying pan yo fire

    Reply
  40. Elie Knaizeh
    Elie Knaizeh November 6, 2014 at 10:16 am

    I cannot believe this. Left LIME because of terrible service and customer care, it’s been great with Flow now and have to resort to LIME again?

    Reply
  41. Tammy Akelia Taitt
    Tammy Akelia Taitt November 6, 2014 at 10:19 am

    Well, now I finally get out the frying pan, I gone and jump in the fire!

    Reply
  42. Badd Hombre
    Badd Hombre November 6, 2014 at 10:21 am

    Nooooooo

    Reply
  43. Steve Jemmott
    Steve Jemmott November 6, 2014 at 10:27 am

    We go with the flow!

    Reply
  44. Badd Hombre
    Badd Hombre November 6, 2014 at 10:28 am

    So lime does have money after all??… All the profits made from raping poor people’s pocket with their ridiculously over priced packages and rates over the years… We will always be in a strangle hold. I tell yuh.. See this thing called democracy??

    Reply
  45. Radcliffe Loxc Broomes
    Radcliffe Loxc Broomes November 6, 2014 at 10:33 am

    Sell Out

    Reply
  46. Marco Aurelio Schaumloeffel
    Marco Aurelio Schaumloeffel November 6, 2014 at 10:37 am

    Very bad news! Killing competition. This deal should not be allowed by the Barbados Government, it’s bad for citizens and the free market.

    Reply
  47. Badd Hombre
    Badd Hombre November 6, 2014 at 10:40 am

    The same lime who approached the FTC few years ago for a rate increase because they were operating at a loss?!?!… Double wow!!

    Reply
  48. The TARDIS November 6, 2014 at 10:59 am

    So what does this mean for us FLOW customers…especially those who joined FLOW to get away from C&W? C&W makes it a habit of exploiting its customers and once again, we are being delivered into the hands of the exploiter?

    I am a past customer of C&W and after much drama and constant insults by CSRs who felt they knew more about my system than I did, I finally went over to the DARK side. Now that side has turned from DARK to BLACK!!! If I am forced to revert to C&W and I experience problems (which I know I will), will I have to endure long waits and customer service assistance from individuals whose 1st or 2nd language is not even English? Individuals who I have to strain my ears to understand what they are saying? Will C&W force us to accept their plans at extremely exorbitant prices because we can do no better? Something should be done about this.

    I think I will be exploring the aspect of Android TV as I can no longer depend of C&W, FLOW and DIRECTV.

    Reply
  49. Matthew Greaves
    Matthew Greaves November 6, 2014 at 10:59 am

    ohhhhh boy now first thing dem gine do i lay off d majority of the workers then carry up the landline, internet and tv rates so look out

    Reply
  50. Adrian Reid
    Adrian Reid November 6, 2014 at 11:00 am

    Wickedness I say

    Reply
  51. Lulz November 6, 2014 at 11:03 am

    LMFAO

    Reply
  52. jr smith November 6, 2014 at 11:14 am

    The same issue existed in the UK telecoms industry. Corporate corruption is always a lead off to the cartel. We in Barbados must look to ,Japan,Hong Kong or China to bring new communication companies which would be more cost effective and transparent.

    Reply
  53. Victor Franklin November 6, 2014 at 12:06 pm

    This is a strategic move. FLOW as a new player installed thousands of fibre optic into homes. With the purchase of FLOW, LIME will only have to replace fibre optic in those homes not serviced by FLOW.

    Reply

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