Liberty Global in Talks to Acquire Cable & Wireless Communications

DENVER: Liberty Global has confirmed that it is in discussions with the board of Cable & Wireless Communications (CWC) regarding the possible purchase of the telecommunications company.

Based in London, CWC's main operations are in the Caribbean and Latin America. John Malone, who controls Liberty Global, already has a 13-percent stake in Cable & Wireless.

Liberty Global owns Virgin Media, and has operations in Chile and Mexico. The CWC takeover is seen as a move to strengthen Liberty Global's presence in Latin America, positioning it as a challenger in a region dominated by Mexican Carlos Slim's enterprises and Spain's Telefonica. 

“There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made,” CWC said in a release.

Under British takeover rules, the company has until November 19 to decide whether to make a formal bid for Cable & Wireless.