Windstream receives regulatory approval for REIT spin-off

22 Jan 2015

US telco Windstream has confirmed that it has received all regulatory approvals from state public service commissions required for its planned real estate investment trust (REIT) spin-off, which will be named Communications Sales & Leasing (CS&L). Windstream notes that it previously received a favourable private letter ruling from the Internal Revenue Service (IRS) relating to the transaction. Windstream director Francis X ‘Skip’ Frantz, who will serve as chairman of CS&L’s board, commented: ‘Securing these regulatory approvals is an important milestone in our work and affirms the compelling benefits of the transaction to consumers and businesses.’

As previously reported by TeleGeography’s CommsUpdate, in July 2014 Windstream announced plans to spin off certain telecoms network assets into an independent publicly traded REIT in order to accelerate network investments, significantly reduce debt and maximise shareholder value.

United States, Windstream Communications