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AT&T to sell Connecticut wireline operations to Frontier
2013-12-17 15:05:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to sell its incumbent local exchange operations in Connecticut to Frontier Communications for USD 2.0 billion in cash. The transaction includes some wireless network assets and consumer, business and wholesale customer relationships. AT&T will use the sales proceeds, in part, to further its Project VIP plan to upgrade to an all-IP network. Under the terms of the deal, AT&T will receive USD 2.0 billion in cash for the stock of its subsidiaries Southern New England Telephone Company and SNET America. The activities count more than 900,000 voice connections, including U-verse VoIP and traditional copper lines; approximately 415,000 broadband connections, including about 245,000 U-verse internet and about 170,000 DSL customers; and about 180,000 U-verse video subscribers. The transaction is subject to review by the US Department of Justice, the Federal Communications Commission, the Connecticut Public Utilities Regulatory Authority and other state regulatory authorities and is expected to close in the second half of 2014.
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Category:Telecommunications