DALLAS and MATTOON, Ill., Jan. 16 -- TXU Corp. announced today it will sell TXU Communications, a telecommunications business based in southeast Texas, to Consolidated Communications Inc. for $527 million, including approximately $524 million in cash and $3 million in assumed debt. The sale is expected to close in the first half of this year, pending customary approvals.
"With the sale of TXU Communications, TXU continues its focus on core energy businesses in Texas and Australia. We're pleased with the strategic fit of TXU Communications and Consolidated Communications, two respected regional telecommunications companies with strong commitments to customers and employees," said Erle Nye, chairman and chief executive, TXU.
TXU Communications Ventures Co., which does business as TXU Communications, includes two regulated rural telephone companies, Lufkin-Conroe Telephone and Fort Bend Communications, in southeast Texas. Overall, TXU Communications has approximately 168,000 access lines.
For more information, visit: www.txucorp.com