Liberty Global to buy Puerto Rican cable company
June 26 |
June 26 (Reuters) - Telecommunication services provider Liberty Global and affiliates of investment firm Searchlight Capital Partners agreed to buy Puerto Rico's OneLink Communications for an enterprise value of about $585 million.
"This transaction will make us the leading provider of cable services in Puerto Rico, passing approximately 70 percent of the cable homes on the island and adding substantial scale to our existing operation," Liberty's CEO Mike Fries said.
The transaction is expected to close in the fourth quarter. (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)
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