Iowa Telecom agrees Minnesota buy

25 Nov 2008

The rural fixed line carrier Iowa Telecom has agreed to buy Minnesota’s Sherburne Tele Systems in a USD80.6 million deal. The acquisition, which is subject to regulatory approval, is expected to close in mid-2009, according to a report from Associated Press. Iowa Telecom currently has more than 230,000 access lines in service. ‘This acquisition is another opportunity to profitably grow our rural telecommunications business,’ Iowa Telecom chief executive Alan Wells said in a statement.

United States