Investors sent shares in Cable & Wireless Communications (CWC) up 5 per cent after telecoms giant Liberty Global - owner of Virgin Media - struck an all-share deal worth an estimated £3.6bn to acquire the Caribbean and Latin American telco. The tie-up promises to create one of the largest regional providers of mobile, broadband and TV services, with over $3.5bn (£2.3bn) in annual revenues.
IC TIP:
Hold
at
77p
CWC shareholders can choose between the recommended offer - comprising two classes of Liberty Global shares - and two alternative offers that include shares in LiLAC, Liberty's Latin American and Caribbean business.
