Verizon Communications has announced a definitive agreement to purchase fibre-optic network assets serving the Chicago market from Colorado-based Wide Open West (WOW!) for USD225 million. The transaction is expected to close in the first quarter of 2018, and the agreement includes an additional USD50 million in network investment for WOW! to complete the build-out of its Chicago network in the second half of 2018.
Via the transaction, Verizon will secure fibre access to more than 500 macro towers and more than 500 small cell wireless sites. The high-capacity fibre network is designed to support multi-use services, and already connects Verizon Wireless macro towers and small cells, and will therefore reduce the telco’s leasing costs.