DENVER, Colorado, United States—If there was any doubt the acquisition deal between Teligent and IDT was dead, Teligent’s latest announcement that a company has been formed to purchase Teligent’s assets should put those doubts to rest.
Backed by current management, the new company, Teligent Acquisition Corp. (TAC), entered an agreement to pay approximately US$115 million for Teligent’s core domestic fixed-wireless business and assets, with the intention of fully funding Teligent’s operations in its top 11 markets, including Boston, Chicago, Cleveland, Dallas, Hartford, Houston, Los Angeles, New York, Philadelphia, Phoenix and Washington, D.C.
The acquisition is contingent, however, on TAC’s success in pulling together that amount of money from outside investors, as well as other important variables such as approval from the U.S. Bankruptcy Court, the Federal Communications Commission and the Department of Justice.
Teligent management tries to buy LMDS assets
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