FLOW's parent Liberty Global says it remains on track for a spin-off of its Latin American arm by the end of the year, as it readies the division for an expected industry shake-up in the region.
The move to split Liberty Global, predominantly a European cable company, and LiLAC, which comprises the merged Cable & Wireless Communications and Columbus networks comes as the company prepares for the next stage of consolidation in regions where it operates.
The demerger would also allow the regional entity to raise capital independently of the broader group and clear up Liberty Global’s complex structure.
The regional entity was created in 2015 ahead of the £5.4 billion takeover of Cable & Wireless Communications.
The deal was largely paid for in Liberty Global stock.