UK-based operator Cable & Wireless Communications (CWC) announced on 10 March that it had completed the sale of its local assets to Canada’s Bragg Group for US$70m.
First announcing the deal in late February, CWC emphasised that it would retain its…
UK-based operator Cable & Wireless Communications (CWC) announced on 10 March that it had completed the sale of its local assets to Canada’s Bragg Group for US$70m.
First announcing the deal in late February, CWC emphasised that it would retain its stakes in two international cable systems landing in Bermuda.
The Bragg Group is a holding company which owns the Canadian internet, cable TV and fixed-line telephone service operator Eastlink.
According to CWC’s statement in February, Bragg paid the US$70m in cash, representing a multiple of 6.5x 2009/2010 EBITDA.
CWC used in-house expertise for advice on the deal, and consulted an unspecified local legal counsel.
