LONDON— Portland Private Equity is pleased to announce that Cable & Wireless Communications, Plc has announced a $1.85 billion acquisition of Columbus International Inc. as part of the telecommunication firm’s plan to enhance growth in its operating regions. In addition, Cable & Wireless will assume Columbus’ existing net debt as part of the acquisition, which was $1.17 billion as at June 30.
Columbus is a privately-owned diversified telecommunications and technology services company, with 700,000 residential customers in the Caribbean, Central America and the Andean region. Portland Private Equity co-founded the business and it is an AIC Caribbean Fund portfolio company.
