AT&T has acquired the minority stakes in its Cincinnati telecoms operations from telecoms services company Convergys Corp in a deal worth US$320m.
In a statement yesterday, Convergys said that the two stakes involved were a 34% limited partnership…
AT&T has acquired the minority stakes in its Cincinnati telecoms operations from telecoms services company Convergys Corp in a deal worth US$320m.
In a statement yesterday, Convergys said that the two stakes involved were a 34% limited partnership interest in telco Cincinnati SMSA and a 45% limited partnership interest in Cincinnati SMSA Tower Holdings.
AT&T expects that the impact of the acquisitions on its cash flow and earnings will be “insignificant”.
AT&T’s VP and general manager for the Ohio and Western Pennsylvania areas, Larry Evans, said: “Financially and operationally, it makes sense for AT&T to purchase Convergys’ minority stake in our Cincinnati wireless operations.”
