FCC approves merger of CT Communications, Windstream

By Lisa Kerner

Charlotte, N.C., Aug. 16 - The Federal Communications Commission OK'd the proposed merger of CT Communications, Inc. and Windstream Corp. With all required regulatory approvals now complete, the transaction is slated to close by the end of August, subject to shareholder approval, a company news release stated.

CT Communications' shareholders are set to vote on the deal at a special meeting on Aug. 23.

Under the companies' May 29 definitive agreement, Windstream will acquire CT Communications for $31.50 per share in cash in a transaction valued at about $585 million, including the assumption of debt.

CT Communications is a Concord, N.C.-based company that provides integrated telecommunications and related services to residential and business customers.

Windstream is a Little Rock, Ark., broadband and entertainment services company.

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