TDS Telecommunications Corp., a subsidiary of Telephone and Data Systems, Inc. [NYSE:TDS, TDS.S], announced today it has entered into a definitive agreement to acquire Union Telephone Co., a privately held telecommunications company in Farmington, NH.
The transaction is subject to certain conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2009. The transaction would include more than 8,500 access line equivalents, covering 150 square miles in rural eastern New Hampshire. TDS currently operates 7 phone companies in the state. Union Telephone Company currently provides telecommunications services to all or portions of the towns of: Alton, Barnstead, Center Barnstead, Farmington, Gilmanton, New Durham and Strafford, New Hampshire. “Union Telephone is an excellent addition to our footprint in New Hampshire,” said David A. Wittwer, president and chief executive officer of TDS Telecommunications Corp. “The company operates a high-quality network and is close to our Chichester exchange. We look forward to being the preferred broadband provider in the community, offering new product bundles, enhanced service quality, and faster high-speed Internet service to our new customers.”
TDS Telecommunications Corp. markets communication services to business and residential customers in 30 states through its brands TDS Telecom® and TDS Metrocom®. With nearly 1.2 million access line equivalents in service, TDS Telecommunications Corp. connects customers to phone, broadband, and digital television service in hundreds of rural, suburban, and metropolitan communities. TDS Telecommunications Corp. is the eighth-largest wire line company in the nation; employing approximately 2,730 people. The company is headquartered in Madison, Wis.
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