September 07, 2021- CINCINNATI–(BUSINESS WIRE)–Cincinnati Bell Inc. today announced the completion of its acquisition by Macquarie Infrastructure Partners V (“MIP”), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management (“MAM”). The $2.9 billion transaction will accelerate Cincinnati Bell’s fiber build across its operating footprint, and support strategic investments in the company’s IT Services businesses throughout North America.
Leigh Fox, President and Chief Executive Officer of Cincinnati Bell, said the transaction close marks the beginning of an exciting new chapter in the company’s nearly 150-year history.
“Our partnership with MIP is tremendous news for Cincinnati Bell’s 4,700 employees, our customers, and the communities we serve,” Fox said. “MIP has deep telecommunications expertise and a strong track record of investing in capital intensive businesses, which will be critical as we deliver on our strategy to drive next generation, integrated communications through an expanded fiber network as well as our IT services platform.”
Anton Moldan, Senior Managing Director with MAM, said that Cincinnati Bell’s expansion plans will play an essential role in building digital equity within their service territories.
“We are incredibly excited to partner with the experienced management team at Cincinnati Bell to continue to build out a high bandwidth fiber to the premise network for consumers, enterprises, and carriers, as well as to support...
Read Full Story: https://www.telecompetitor.com/cincinnati-bell-inc-acquisition-by-macquarie-infrastructure-partners-v-finalized-in-2-9-billion-transaction/
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