Consolidated Communications offloads Virginia business

3 Aug 2018

Consolidated Communications has completed the sale of its Virginia properties, Peoples Mutual Telephone Company and Peoples Mutual Long Distance Company, to RiverStreet Management Services, a subsidiary of Wilkes Communications. The sale was a cash transaction valued at approximately USD21 million, subject to certain contractual adjustments. The closing occurred on 31 July following receipt of all required regulatory approvals. Consolidated notes that the divestiture allows it to continue to focus on its core regions and integration projects.

United States, Consolidated Communications, Peoples Telephone Cooperative (PTC)