MATTOON, Ill., Dec. 13, 2012 (GLOBE NEWSWIRE) — Consolidated Communications Holdings, Inc. (Nasdaq:CNSL) announced today that it has purchased an additional interest in one of its wireless partnerships.
The Company has acquired an additional interest of approximately 3.5% in the GTE Mobilenet of Texas RSA #17 Limited Partnership, which is one of its five wireless partnership investments. The opportunity arose when one of the other limited partners decided to sell its ownership interest. With this purchase, the Company increased its investment interest in this partnership to just over 20.5%. The Company contributed approximately $6.7 million for the additional interest.
Based on cash distributions received in 2012 from this partnership, the Company would have received $1.1 million more throughout the year had it owned the additional 3.5% investment interest for the entire year.
