Citizens exploring sale?
Citizens Communications said today in a brief statement that it was exploring strategic alternatives and that it has retained a financial advisor to assist in the process.
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Citizens, which acquired more than 1 million lines from Global Crossing, did not provide any other details.
In the company’s third quarter, it reported a loss of 14,600 access lines largely due to DSL sign ups. Additionally, the company completed the sale of several North Dakota exchanges in the quarter.
For the quarter, Citizens Communications reported a profit of $11.4 million on revenues of $595 million.
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