Cable & Wireless Communications to sell Bermudan subsidiary

摘要

Cable & Wireless Communications has announced that it is to sell its fixed-line business in Bermuda to The Bragg Group for US$70 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 program of up to US$100 million in order to return capital to its shareholders.