Zayo offloads Scott-Rice Telephone for USD42m

1 Aug 2018

Zayo Group Holdings has announced that it has completed the sale of Scott-Rice Telephone Company, a Minnesota-based incumbent local exchange carrier (ILEC), for USD42 million to Nuvera (formerly New Ulm Telecom). Zayo acquired Scott-Rice Telephone as part of its March 2017 purchase of Electric Lightwave. Since the acquisition, it has been managed separately, but within Zayo’s Allstream business segment. Scott-Rice Telephone serves residential and business customers in areas of Scott and Rice counties, south-west of Minneapolis. Matt Steinfort, Zayo’s CFO, commented: ‘The completion of this sale is an important step toward the separation of the Allstream assets. It better positions us to focus and execute on our core communications infrastructure business.’

United States, Zayo Group