Lumos Networks (LMOS) to Pursue Strategic Alternatives for Regulated LEC Assets

November 9, 2016 8:07 AM EST

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Lumos Networks Corp. (“Lumos Networks”) (NASDAQ: LMOS), a leading fiber-based service provider in the mid-Atlantic region today announced that UBS Investment Bank is assisting it in exploring strategic alternatives for the Company’s regulated Local Exchange Carrier (“LEC”) assets.

“During the third quarter, we completed our network separation analysis for our regulated LEC assets,” said Timothy G. Biltz, CEO of Lumos Networks. “Not only did we determine that these LEC network assets can be separated, but we initiated physical separation of these assets during the quarter. We believe that a key component of maximizing shareholder value will be creating optionality with respects our regulated LEC assets as it furthers our publicly stated goal of becoming a pure play fiber bandwidth infrastructure company.”

There can be no assurance that the Company’s review of strategic alternatives for the regulated assets will result in any transaction. The Company does not intend to make further public comments regarding these matters during the strategic review process.

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