Cable & Wireless Communications is selling its operations in Bermuda to a family-run Canadian cable and telecommunications company in a US$70 million deal. Once the sale to The Braggs Group gets government and regulatory approvals, it’s expected to be finalised by the end of next month, at which time the new owners say they’ll keep the same employees and local management.
Cable & Wireless Bermuda, which is part of CWC’s Monaco & Islands unit, is an international gateway business providing data capacity, carrier, internet and International Direct Dialling calling services. It also provides data centre and disaster recovery services to the corporate community, and partially owns alternative local network provider Quantum Communications Ltd.
Source: Caribbean 360