Liberty Global Plc is in talks with Cable & Wireless Communications Plc about a potential deal to unite two companies backed by billionaire cable pioneer John Malone and extend Liberty's reach in the Caribbean. Cable & Wireless, valued at slightly more than 3 billion pounds ($4.6 billion) as of Thursday's close, said talks were under way regarding a possible cash-and-stock bid by Liberty. It said they were not certain to result in an offer.Liberty Global confirmed the discussions. According to UK law, it has until Nov. 19 either to make an offer or to announce that it does not intend to purchase the company.Based in London, Cable & Wireless describes itself as "the go-to player in the Caribbean and Latin America". It introduced the first telegraph services to the region in the 1870s, the company says on its website.
Shares of LBTYA fell by 0.81% or $-0.36/share to $43.90. In the past year, the shares have traded as low as $42.10 and as high as $58.66. On average, 2159820 shares of LBTYA exchange hands on a given day and today's volume is recorded at 2382721.
Shares of LBTYK fell by 0.64% or $-0.27/share to $42.19. In the past year, the shares have traded as low as $40.10 and as high as $54.74. On average, 3160820 shares of LBTYK exchange hands on a given day and today's volume is recorded at 3165706.
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