According to a report in the Wall Street Journal, Centennial Communications is meeting with potential buyers for a deal that could fetch $1.5 billion. The company's 1.25 million customers span three distinct operations: a wireless service in the Midwest, a leading wireless franchise in Puerto Rico and the Dominican Republic, and a broadband network in the Caribbean. Insiders say Centennial may piecemeal the sale because the Caribbean wireless properties will fetch more than the company's other holdings. Centennial declined to comment.
As the industry enters further consolidation and wireless valuations are at their strongest in four years, an auction of Centennial seems favorable for the company's two holding firms. Some also see rural wireless subscribers as a lucrative captive market since there is often limited wireless coverage.
For more on the rumored Centennial sale:
- check out this article from Forbes