Deals

Liberty Global to Acquire Cable & Wireless in $5.3 Billion Deal

Malone extends Europe cable empire into Caribbean, Panama
Cable & Wireless shares jump about 7 percent in London

Liberty Media's John Malone.
Photographer: Michael Kovac/Getty Images

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Kristen Schweizer

November 16, 2015 at 6:52 PM UTC

Updated on

November 17, 2015 at 8:15 AM UTC

This article is for subscribers only.

John Malone’s Liberty Global Plc agreed to buy Cable & Wireless Communications Plc in a cash-and-stock transaction valued at 3.5 billion pounds ($5.3 billion), extending the U.S. billionaire’s European cable empire deeper into Latin America.

Cable & Wireless shareholders will receive a 3 pence-a-share one-time dividend at the deal’s completion. The transaction values Cable & Wireless at 78.04 pence per share. The stock rose 6.6 percent to 78.60 pence at 8:13 a.m. in London.