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Cable & Wireless Acquires Columbus for $1.85 Billion

Paul, Weiss client Cable & Wireless Communications Plc, a telecommunications services provider operating in 17 countries throughout the Caribbean, Latin America and the Seychelles, agreed to acquire Columbus International Inc. for approximately $1.85 billion - $707.5 million is in cash and the remainder in shares - and the assumption of Columbus' existing net debt of $1.17 billion. The Columbus acquisition will be funded through issuance of new equity and debt offerings. J.P. Morgan Bank N.A. has provided debt financing commitments, including backstop commitments, of $2.63 billion. The London office, working with Slaughter and May and our New York and Washington offices, is advising on the debt financing for the acquisition, an equity placing and a consent solicitation, as well as on antitrust, tax and FCC matters.

The Paul, Weiss team includes securities partner Mark Bergman and counsel Patricia Vaz de Almeida; financing partner Eric Goodison and counsel Didier Malaquin and Pearl Yuan-Guarg; tax partner David Mayo; and antitrust partner Joseph Simons.

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