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Cincinnati Bell to sell spectrum licences to Verizon

2014-04-07 19:40:00| Telecompaper Headlines

(Telecompaper) US operator Cincinnati Bell has agreed to sell its wireless spectrum licences and certain related assets to Verizon Wireless for cash and an assumption of certain Cincinnati Bell liabilities with a total value of USD 210 million. Cincinnati Bell Wireless (CBW) will, for a nominal charge, lease back the spectrum it is selling for a period of time following the closing of the transaction, during which it will wind down its mobile network operations and assist its customers in transitioning their service arrangements to Verizon Wireless or other providers. CBW will notify its customers with further details regarding this transition assistance around the time of closing, which is expected to be in the second half of 2014. 

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