Virginia's State Corporation Commission approves acquisition of BVU
The Virginia State Corporation Commission today approved the acquisition of Bristol Virginia Utility's OptiNet broadband service by Sunset Digital. The decision is one of the last steps in finalizing the agreement.
It would allow Sunset Digital to purchase BVU's Optinet assets for $50 million. The commission found that Sunset has the financial, managerial and technical capabilities to render telecommunications services to BVU OptiNet customers.
"This is extraordinary news for OptiNet and Sunset customers and for those awaiting broadband services in southwest Virginia," says Paul Elswick, Sunset's Chief Executive Officer. "We look forward to finalizing the purchase."
Sunset is in a position to expand coverage in its and OptiNet's footprint after completion of the acquisition. The purchase will expand Sunset's service are to include Lee, Wise, Washington, Russel, Dickenson, Tazewell, Buchanan, Smyth, Wythe, and Bland Counties, as well as the cities of Bristol and Norton.