West Virginia-based landline telco, NTelos announced it has bought FiberNet from One Communications’ FiberNet business for US$170m.
FiberNet will add 3,500 fibre network miles, covering West Virginia and parts of Ohio, Maryland, Pennsylvania, Virginia…
West Virginia-based landline telco, NTelos announced it has bought FiberNet from One Communications’ FiberNet business for US$170m.
FiberNet will add 3,500 fibre network miles, covering West Virginia and parts of Ohio, Maryland, Pennsylvania, Virginia and Kentucky, to NTelos’ network. FiberNet was inherited by One Communications during the merger of CTC Communications and Choice One Communications in 2006.
NTelos will fund the acquisition using a combination of a permitted incremental term loan under the existing senior credit facility, availability under the undrawn revolver and cash on hand. After statutory regulatory approvals the company expects to close the deal in the fourth quarter this year.
Blackstone Advisory Services L.P. served as financial advisor to One Communications in connection with the transaction. Evercore Partners acted as financial advisor to NTelos.
