Verizon is currently one of the larger carriers in the US, but it seems that it will be getting even bigger as Cincinnati Bell has recently announced that they would be selling its spectrum holdings and wireless infrastructure to Verizon. The deal is valued at $210 million and is expected to close in the second half of 2014, pending regulatory approval, of course.
Over the next 8-12 months, Cincinnati Bell will also be transferring its customers to Verizon and other wireless providers, and at the same time lease back some of the spectrum and towers for a nominal fee while the company focuses on its FiOptics internet and television service.
According to Cincinnati Bell’s CEO, Ted Torbeck, “We appreciate the loyal support from our Cincinnati Bell Wireless customers over the last sixteen years, and we remain committed to providing them with wireless service and support throughout the transition period.”
Despite the carrier being the fourth largest regional carrier, it has been speculated that they have been unable to compete against the major carriers which is why they might be selling off their spectrum and focusing on other aspects of the business instead.
It was just last year that MetroPCS was bought by T-Mobile and with Japan’s Softbank acquiring a major stake in Sprint, we guess it’s about time that Verizon did some acquiring of their own as well.
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