FairPoint is selling the capital stock of its Idaho operations...
FairPoint is selling the capital stock of its Idaho operations to Montana-based Blackfoot Telecom Group for $30 million cash, FairPoint said Wednesday (http://xrl.us/bn33en). It said the deal is expected to close early next year, pending government approval. FairPoint has upwards…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
of 5,000 residential and business customers in eastern Idaho and annually produces more than $8 million in revenue, it said. “We believe that the resulting reduction of debt arising from this transaction enhances shareholder value,” Chief Financial Officer Ajay Sabherwal said in a statement. Blackfoot, in a separate Wednesday release, said it’s acquiring FairPoint’s Fremont Telcom Co. and Fretel Communications (http://xrl.us/bn33ex). Eastern Idaho will get “innovative technology products and services from Blackfoot’s successful IP network” and “advanced wireless and fiber connectivity,” it said. Blackfoot said this is its third “smart growth initiative” of 2012, citing acquisitions of Modwest and Cutthroat Communications earlier in the year, and it wants to expand to Pocatello, the state’s fifth largest city. The telco said its high-capacity fiber backbone will now cover 8,500 miles throughout Idaho and Montana.