It looks like Frontier (NYSE: FTR) isn't the only West Va. provider making big telecom deals these days. Competitive provider FiberNet, the state's second largest service provider, could be acquired.
A report in the Charleston Daily Mail citing unnamed sources, said that FiberNet is looking for a buyer. FiberNet became a subsidiary of ONE Communications when CTC Communications and Choice One Communications were both merging and simultaneously made a deal to acquire Conversent Communications--FiberNet's parent in 2006.
Although sources say that a number of buyers have expressed interest in purchasing FiberNet neither company is talking. When asked about a possible deal, Patti Leahy, a spokeswoman for ONE Communications would only say that "I can't comment one way or another today."
If the rumors are true that FiberNet is being acquired it could herald in a new wave of consolidation in the competitive service provider market. The rumor of FiberNet's potential sale comes on the heels of rumors that three other competitive service providers--KDL, Alpheus and Fibertech--are also being eyed as potential acquisition targets.
- Charleston Daily Mail has this article
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