One Communications considers its next move

One Communications, a multi-regional competitive service provider, is now set on plotting out its own future.

Although it did not give any specific details, the multi-regional service provider has asked Blackstone Advisory Services L.P. to be its advisor as it considers its own possible merger and acquisitions.

"The process surrounding these transactions further solidified our belief that strategic consolidation is important in our business," said Howard Janzen, Chief Executive Officer in a release. "The market expressed strong interest in our extensive network assets, stable on-net customer base and positive cash flow and we believe that continued transaction activity is an attractive option with a number of qualified partners."

This latest move follows One's sale of its FiberNet business to NTELOS and Fibertech, a company where it owns a minority interest, announced its sale to Court Square. The proceeds of these deals, which are both expected to close in Q4, will be used to reduce One's debt.

For more:
- see the release here

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