Cable & Wireless Communications Plc

27 March 2015

TELECOMMUNICATIONS AUTHORITY OF TRINIDAD AND TOBAGO APPROVES ACQUISITION OF COLUMBUS BY CWC

Cable & Wireless Communications Plc (CWC) announced on 6 November 2014 that it had agreed terms to purchase 100 per cent. of the equity of Columbus International Inc, a leading privately-owned fibre-based telecommunications and technology services provider operating in the Caribbean, Central America and the Andean region, for USD1.85bn (the "Acquisition").

The Company confirms it has obtained the necessary approval for the Acquisition in Trinidad and Tobago following its receipt of consent from the Telecommunications Authority of Trinidad and Tobago (TATT).  Further to the consent, CWC has agreed to divest its 49 per cent. shareholding in TSTT within an appropriate period following completion of the Acquisition.

Completion of the Acquisition remains subject to the satisfaction or waiver of certain other conditions, as set out in the circular to CWC shareholders dated 19 November 2014, including the receipt of all necessary regulatory approvals in Barbados. 

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About Cable & Wireless Communications 

Cable & Wireless Communications Plc (CWC) is a full-service communications provider operating in 16 countries throughout the Caribbean and Latin America. With four leading brands: Mas Movil (Cable and Wireless Panama), LIME (the Caribbean excluding The Bahamas), BTC (The Bahamas) and Cable and Wireless Seychelles, CWC offers mobile, broadband, TV, domestic and international fixed line services and serves over 5.5m customers. CWC also provides premium data centre hosting, domestic and international managed data network services and customised IT Service Solutions to businesses and governments through our Cable & Wireless Business Solutions division.

On 6 November 2014, CWC announced the acquisition of Columbus International Inc. Whilst subject to regulatory approvals in certain markets, we believe that the transaction will bring significant benefits - increased investments, more jobs, and providing customers with superior mobile networks, faster broadband, and more TV choice. We plan to form a new company, with a new leadership team, and a new culture, putting our customers at the heart of the business. Our mission is to grow the lifetime value of our customer relationships by being #1 for Customer Service.

We are the market leader in most products offered and territories served.

For more information visit: www.cwc.com.

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