Consolidated offloads Virginia units

Consolidated Communications has entered into an agreement to sell its Virginia businesses, Peoples Mutual Telephone Company and Peoples Mutual Long Distance Company, to RiverStreet Networks, a subsidiary of Wilkes Communications. Consolidated notes that the divestiture will allow it to continue to focus on its core regions and its ongoing integration of FairPoint Communications, which it acquired for USD1.5 billion in July this year. Wilkes Communications and RiverStreet Networks offer a full suite of fixed line services to residential and commercial subscribers in parts of 26 counties in North Carolina.