ATN Updates FCC on CFC Deal Regulatory Progress, U.S. Virgin Islands Review

Atlantic Tele-Network cited progress in winning regulatory approvals of its planned buy of subsidiaries of National Rural Utilities Cooperative Finance Corporation (CFC). "ATN and CFC have already received many of the regulatory consents necessary for consummation of the Transaction and are nearing receipt of the others," said an ATN filing posted Wednesday in FCC docket 15-264 that updated commission staff. ATN -- a mobile wireless provider in 10 Western states and the U.S. Virgin Islands and a CLEC in three Northeastern states -- is proposing to buy CFC's DTR Holdings and its telecom and cable TV units operating in the U.S. Virgin Islands. The transaction received "early termination" U.S. antitrust approval Feb. 2 and was cleared by government entities in the British Virgin Islands and St. Maarten, ATN said. The U.S. Virgin Islands Public Services Commission scheduled June 14-16 hearings on the deal and a hearing examiner is to issue a decision July 25, triggering final review by the PSC, ATN said.