Zayo offloads Scott-Rice Telephone for USD42m

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.’