UK-based Cable & Wireless Communications (CWC) intends to seek out growth opportunities in the Caribbean once the ongoing sale of its ‘Monaco & Islands’ division to Bahrain’s Batelco is complete. Speaking to the Wall Street Journal at the Mobile World Congress (MWC) in Barcelona, CEO Tony Rice commented: ‘After that we will be debt free and have net cash. We can stay in business despite consolidation in the sector, but we have to grow’. Rice visualises opportunities in markets such as Cuba, Puerto Rico and the Dominican Republic, but is keen to avoid the bigger countries in Latin America, such as Brazil and Mexico. ‘Brazil is too big for us’, Rice added. When looking to make an acquisition, the CEO noted that CWC will focus on fixed line assets rather than mobile operators, clarifying: ‘We see our business model in full service’.
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