Consolidated Seeks FCC OK for $425 Million Investment

Allowing more foreign investment in Consolidated Communications would mean more financial support for its multiyear investment program to deploy fiber to the home to as many as 1.4 million locations and accelerate its commercial fiber build, said its FCC International Bureau petition for declaratory ruling Monday for foreign investment higher than the 25% benchmark in the Communications Act. Consolidated said it and Searchlight Capital Partners worked out a $425 million deal that would mean Searchlight investment funds owning 35% of Consolidated’s common voting stock and up to about 62.4% of its equity, with Searchlight's control ultimately being in a Cayman Island partnership run by a Canadian and a German.