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Cable and Wireless in takeover talks with US cable company Liberty Global

Published:Thursday | October 22, 2015 | 10:35 PM

Cable and Wireless Communications Plc has confirmed that it is in talks with US cable company Liberty Global Plc regarding a possible shares and cash takeover offer for C&W.

The NASDAQ-listed Liberty Global is headed by media entrepreneur John Malone and owns Virgin Media in the UK.

CWC says shareholders are advised to take no action. 

"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,” the company stated in a release to the Jamaican media.

Liberty has until November 19 to state a firm intention, both companies have stated.

In November last year, Cable and Wireless acquired Columbus Communications — the parent company for FLOW.

READ: Cable & Wireless To Acquire Flow Parent For US$3b

The company has since ditched the LIME brand and has been using the FLOW brand.