Liberty Global to acquire buyer of PE-backed Columbus International

Cable and Wireless Communications PLC (CWC), which earlier in 2015 bought Caribbean telecom provider Columbus International Inc, has agreed to be acquired by Liberty Global PLC. The cash-and-stock deal gives CWC a total equity value of about US$5.3 billion. Liberty Global said the acquisition will create a premier regional broadband and wireless platform with 10 million subscribers. CWC bought Columbus for US$3.025 billion in March, giving an exit to an affiliate of Portland Private Equity, a firm led by Canadian billionaire Michael Lee-Chin. As part of the deal, Portland retained exposure to the acquired business.

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