PSC Approves FiberNet Sale
Today the West Virginia Public Service Commission issued approval for the sale of telecommunications provider FiberNet to nTelos for $170 million. West Virginia became the last of six states to approve the sale. The FCC is reviewing the proposed acquisition of the company. The acquisition of FiberNet will make nTelos the second-largest telecommunications provider in West Virginia.
The state PSC cited nTelos’ financial strength and its pledge to spend at least $40 million over the next three years in West Virginia as reasons for approving the sale. As a condition of the sale sparked by a couple of recent FiberNet service outages in October, nTelos and FiberNet must advise the West Virginia Division of Homeland Security Emergency Management and any affected 911 centers of a service interruption or outage during the transition.
Currently, FiberNet provides service to approximately 100,000 land lines—mostly for business—in six states including OH, MD, PA, KY and VA, with the majority of the lines located in West Virginia. nTelos provides service to approximately 85,000 land lines and about 400,000 wireless customers in West Virginia and surrounding states.
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