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Hawaiian Telcom to Purchase $50M Fiber Network
Government Technology: Hawaiian Telcom has signed a definitive purchase agreement to buy interisland submarine and middle-mile terrestrial fiber infrastructure assets currently owned by the bankruptcy estate of Paniolo Cable Co. for $50 million.
The transaction for $25 million in cash and $25 million in committed purchase money financing is subject to customary closing conditions, including approval of the bankruptcy court and federal regulatory authorities, and is expected to close in the third quarter of 2021.
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