Cable & Wireless Communications to sell Bermudan subsidiary

23 Feb 2011

Cable & Wireless Communications has announced that it is to sell its fixed line business in Bermuda to The Bragg Group for USD70 million. The deal is expected to be completed by the end of March pending government and regulatory approval. The Bragg Group currently provides cable-based services in Canada. Cable & Wireless Communications also revealed that it plans to launch a share buyback programme of up to USD100 million in order to return capital to its shareholders.

Bermuda, Cable & Wireless Communications (CWC, incl. Columbus Int.), LinkBermuda