Consolidated receives first instalment of Searchlight investment

8 Oct 2020

US fixed line operator Consolidated Communications has confirmed that it has received the first part of its investment from affiliates of Searchlight Capital. In connection with the agreement, Searchlight has committed to invest up to USD425 million in the telco and the initial USD350 million payment was completed on 2 October. Upon completion of both stages of the investment, Searchlight will hold approximately 35% of the company’s common stock on an as-converted basis.

TeleGeography notes that Searchlight Capital currently owns stakes in a number of telecoms companies, including the likes of LatAm/Caribbean group Liberty Latin America (LLA), Israeli fixed line telco Bezeq, Italian fixed-wireless player EOLO and US regional operator Ziply Fiber.

United States, Consolidated Communications, Searchlight Capital