Telephone and Data subsidiary to transfer ownership of cable operations in Texas

TDS Telecommunications has entered into a purchase agreement with Poka Lambro Telecommunications and Nevill Holdings to transfer ownership of its cable operations in Texas. The joint agreement includes the transfer of TDS‘ cable properties in Seminole, Seagraves, and Denver City to Poka Lambro and the cable properties in Alpine and Fort Stockton to Nevill Holdings, the parent company of Big Bend Telephone Company and Big Bend Telecom, or BBT. The agreement was signed Monday and is expected to close within the Q4. TDS, a Madison, Wisconsin-based company, has been doing business in Texas since 2013 when it acquired Baja Broadband who had been providing cable TV, voice, and internet service in Texas since 2005. Charlesmead Advisors served as advisors to buyers on the transaction. TDS Telecom is a subsidiary of Telephone and Data Systems.