December 23, 2019 / 12:34 PM / in 2 months

Brookefield Infrastructure to buy telecom services provider Cincinnati Bell

(Reuters) - Brookefield Infrastructure Partners LP (BIP.N) will buy telecommunications company Cincinnati Bell Inc (CBB.N) for about $529.42 million, the companies said on Monday.

Under the deal, Cincinnati Bell shareholders will receive $10.50 per share, representing a premium of 36% to the company’s Friday closing price.

Including debt, the deal is valued at $2.6 billion.

Reporting by Neha Malara in Bengaluru; Editing by Vinay Dwivedi

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