Searchlight and BCI to acquire the remaining stake in Consolidated Communications for $2bn.

Searchlight, a global private investment firm, and BCI, one of the largest institutional investors in Canada, agreed to acquire the remaining stake in Consolidated Communications, an American broadband and business communications provider, for $2bn. "We believe this transaction provides substantial value for our shareholders while also enhancing our flexibility to continue the execution of our fiber expansion strategy. We have been operating in a shifting economic environment over the course of this past year, resulting in higher operating costs and a challenging market for attractive financing options. While we are pleased with how we have managed the business despite these headwinds, several factors recently necessitated that we delay our estimated fiber build completion beyond 2026. As we navigate this environment, we will have increased flexibility as a private company and Searchlight will continue to be an outstanding partner as we advance our transformation to a leading fiber-first provider. We believe this continued partnership will create an outstanding outcome for the Company, our customers and our employees," Bob Udell, Consolidated Communications President and CEO.