Cable & Wireless Jamaica minority shareholders seek Liberty Global buyout
Accionistas minoritarios de Cable & Wireless Jamaica buscan oferta de Liberty Global
Intel ID : 239878
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A group of minority shareholders of Cable & Wireless Jamaica (JSE:CWJ), a Kingston-based provider of integrated telecoms services, is said to have requested the Financial Services Commission (FSC) of Jamaica force UK-based Liberty Global (NASDAQ:LBTYA) to submit a buyout offer for their shares, reported The Jamaica Gleaner on 24 August 2016. According to the report, the FSC will meet in early September with the group of shareholders, whose identity was not disclosed, to determine whether their request is valid. Currently, Liberty Global is the indirect majority shareholder of Cable & Wireless Jamaica, given it acquired 100% of UK-based Cable & Wireless Communications (LSE:CWC.L) in May 2016. The latter is Cable & Wireless Jamaica's parent company. As a result, Liberty now indirectly controls almost 80% of Cable & Wireless Jamaica, so the minority shareholders believe the company must launch a mandatory offer for the shares it doesn't already own, in compliance with stock market rules. However, Liberty Global considers the transaction was not a direct acquisition of the Jamaica-based company, so these rules do not apply, the report stated.
(content in spanish)
Un grupo de accionistas minoritarios de Cable & Wireless Jamaica (JSE:CWJ), prestadora de servicios integrados de telecomunicaciones, habría solicitado a la comisión de servicios financieros (FSC) de la isla que fuerce a la británica Liberty Global (NASDAQ:LBTYA) a presentar una oferta de adquisición por sus acciones, ha publicado The Jamaica Gleaner el 24 de agosto de 2016. Según lo publicado, la FSC se reunirá a principios de septiembre con este grupo de accionistas, cuya identidad no ha sido divulgada, para determinar si su solicitud tiene mérito. Actualmente, Liberty Global es el accionista mayoritario indirecto de Cable & Wireless Jamaica, dado que ha adquirido 100% de la británica Cable & Wireless Communications (LSE:CWC.L) en mayo de 2016. Esta última es la matriz de la jamaicana. Como resultado, Liberty controla indirectamente casi un 80% de Cable & Wireless Jamaica, así que los accionistas minoritarios creen que la empresa debe lanzar una oferta obligatoria sobre las acciones que aún no controla, en conformidad con las regulaciones del mercado bursátil. Sin embargo, Liberty Global entiende que la transacción no ha sido una adquisición directa de la empresa jamaicana, por lo cual esas regulaciones no aplican, de acuerdo con la información. |
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60.02.01 Integrated Communication Services 60 Telecommunications / 60.02 Telecommunications & Networking Services |
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60.02.03 Wireless Communications Services 60 Telecommunications / 60.02 Telecommunications & Networking Services |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.