Cable & Wireless Communications plc announced today that it has sold its Bermuda operations to Canadian cable company, the Bragg Group.The operations comprise Cable and Wireless (Bermuda) Holdings Ltd (CWBH); Cable and Wireless Bermuda Ltd; Cable & Wireless eBusiness Ltd; and its 40 percent shareholding in Quantum Communications Ltd No jobs will be lost as a result of the acquisition, the Canadian company stated."We will not be replacing existing operations and people who work for CWB today. In fact, we expect to increase local Bermudian employment in the near future," Bragg said.Cable & Wireless has been operating in Bermuda for 121 years.Bragg operates under the Eastlink brand in Canada, where it was the first company to offer was the first Canadian cable company to offer a “triple play” (telecom, internet and video services) to customers.Binding agreements were signed yesterday by CWC and the Bragg Group, with closing to take place within a few weeks. CWC and the Bragg Group said they would "work closely together to ensure a seamless transition for customers and employees".Terms of the deal were not disclosed, although reports suggest the deal was worth in the region of $70 million.Ann Petley-Jones, who will be the new CEO for Cable and Wireless Bermuda Holdings Ltd, said: “We are excited to invest in Bermuda's economic growth and communications excellence. We are impressed by the quality of the employees and the company's operations, and look forward to further modernizing and expanding a full range of communications services for Bermuda consumers and businesses."In the process, we intend to improve Bermuda's communications infrastructure and create additional employment for Bermudians.”She added that during the transition period, the Bermuda companies will operate as they do today, with the same employees, local management, processes and contact points.Cable & Wireless Bermuda's operations were previously part of Cable & Wireless Communications' Channel Islands and Isle of Man business unit.“Management support and certain support services from Guernsey and London, will now be repatriated to Bermuda," Ms Petley-Jones said."Following the transition, we will build on CWC's long history in Bermuda, as well as the Bragg Group's reputation for reliability, innovation and high-quality products, supported by superior customer service, to provide additional telecom and e-Commerce services to Bermuda businesses and consumers”.Eddie Saints, chief executive of CWC for the Channel Islands and Isle of Man region, said: “This transaction is an example of our efforts to reshape our portfolio and focus on geographies where we have scale and competitive advantage."While Bermuda now sits outside our core hubs, as a Bermudian I am happy and very proud of our wonderful heritage spanning 121 years of service dating back to 1890 when modern technologies of the telegram cable system and radio systems first connected Bermuda to the rest of the world."We continued the journey of bringing new and evolving technologies and capabilities to Bermuda, which we experience and benefit from today. I am also very proud of my team who have endured tremendous transformation over the past ten years as the company repositioned itself to meet the changing competitive landscape in Bermuda." am confident that we are passing the business onto an owner that has the expertise and entrepreneurial drive to further enhance the delivery of telecom and e-commerce services in Bermuda.”The CWC statement added that CWC would continue to play a role in local telecommunications by way of its ownership in Cable & Wireless Network Services Ltd, through the CBUS cable system to the US and British Virgin Islands, in which the new owners will have significant capacity.