Earthlink, Paetec rumored to make bids on One Communications

The fate of One Communications may soon be decided as Earthlink (Nasdaq: ELNK) and Paetec (Nasdaq: PAET) are close to making a deal for the CLEC. Sources told Reuters that One Communications could fetch between $500 million to $1 billion.

Amidst an ongoing flurry of consolidation in the Tier 2 ILEC and competitive telecom provider market, One Communications decided to put itself on the auction block in September. Earlier, One Communications sold off its FiberNet assets to local ILEC NTELOS for about for about $170 million.  

However, it appears that potential buyers have a lukewarm feeling about making an offer for One Communications. Only a small number of other service providers said they had an interest in purchasing the CLEC when they were approached by Blackstone Advisory Group, One Communication's advisor.

At this point neither Earthlink nor Paetec were able to comment on any possible deal to buy One Communications.

For more:
- Reuters has this article

Related articles:
One Communications considers its next move
NTELOS buys FiberNet from One Communications
FiberNet could be heading to the auction block
Fibertech sold to Court Square for $500 million

Suggested Articles

icrosoft took the wraps off of a new cloud service for Azure via its partnership with Genesys.

Ahead of next month's fourth quarter earnings, Windstream touted its 2019 broadband achievements this week.

Cincinnati Bell announced on Friday that it has received an unsolicited buyout bid from an "infrastructure fund" for $12 a share in cash.