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TPG to buy RCN, Grande Com for USD 2.25 bln - report
2016-08-15 09:07:00| Telecompaper Headlines
(Telecompaper) Private-equity firm TPG has agreed to buy US cable operators RCN and Grande Communications for about USD 2.25 billion including debt, people familiar with the matter told the Wall Street Journal. Google Capital is taking a minority stake in the companies, which are currently owned by private-equity firm Abry Partners, some of the people said. The transactions could be announced 15 August. RCN provides cable, phone and internet service on the East Coast and in Chicago, while Grande offers the same services in Texas. Grande and RCN have shared management and other resources since Abry agreed to buy the two companies in 2009 and 2010, respectively. Their management, including CEO Jim Holanda, will stay on after the sale, the report said.
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Category:Telecommunications