CT Communications shareholders approve merger with Windstream

28 Aug 2007

Shareholders of CT Communications last Thursday voted in favour of a proposed USD585 million buyout by rival operator, Little Rock-based Windstream Corp. The merger is still subject to certain customary closing conditions, but the companies anticipate the transaction to be completed by the end of the month. In May this year, Windstream announced it had signed a definitive agreement to acquire North Carolina-based CT Communications, which has 158,000 access lines and 29,000 broadband customers, for USD31.50 per share. Windstream, the nation’s largest rural telecoms service provider, has reportedly agreed to pay a price 46% higher than the stock’s closing price on 25 May.

United States, Windstream Communications