CenturyTel Acquiring Embarq
$11.6 billion deal to create new operator...
by Karl Bode 11:49AM Monday Oct 27 2008 Tipped by seagreen
News is breaking
this morning that Centurytel is preparing to buy Sprint spinoff Embarq in an $5.8 billion dollar deal. As had been predicted by analysts
, more rural telecom operators are the next great wave of consolidation. The combined company (it appears it will take on an entirely new name) would operate in 33 states, and have roughly 8 million telephone access lines, 2 million high-speed Internet customers and about 400,000 video subscribers. The deal includes the assumption of $5.8 billion of Embarq's debt, and after closing Embarq shareholders are expected to own about 66 percent of the combined company.