Windstream to buy S.C. phone-service provider
By The Associated Press
This article was published November 3, 2009 at 5:47 p.m.
Traditional telephone company Windstream Corp. says it has agreed to buy NuVox Inc. of Greenville, S.C., a privately held local-exchange carrier, in a transaction the company valued at approximately $643 million.
Windstream said in a news release Tuesday that it would pay NuVox owners $183 million worth of newly issued Windstream stock, $280 million in cash and assume about $180 million in debt.
According to Windstream, the acquisition would add about 90,000 land-line customers in 16 states in the southeast and midwest. Windstream currently has about 3 million access lines, the company said.
The transaction should close in the first half of 2010, Windstream said.
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