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TWC to acquire DukeNet Communications

2013-10-07 20:44:00| Telecompaper Headlines

(Telecompaper) Time Warner Cable has announced it has entered into a definitive agreement with Duke Energy and investment funds managed by Alinda Capital Partners to buy DukeNet Communications for USD 600 million in cash, including the repayment of debt. DukeNet is a regional fibre-optic network company serving customers in North Carolina and South Carolina, as well as five other states in the Southeast. DukeNet's fibre network spans 8,700 miles and provides data and high-capacity bandwidth services to wireless carrier, data centre, government and enterprise customers. Duke Energy owns 50 percent of DukeNet. Alinda investment funds own the remaining 50 percent. The transaction, which is expected to close in the first quarter of 2014, is subject to various customary closing conditions, including receipt of regulatory approvals.

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Category:Telecommunications

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