Centennial Communications Corp. said Monday it was pulling off the sale block
a cable system with about 95,000 subscribers in Puerto Rico.
In April, Centennial said it hired Morgan Stanley to help find a buyer for
the system, which it bought in pieces from Teleponce and Pegasus
But apparently interest was lacking. Centennial said it decided that hanging
onto the operation 'provides the highest value for shareholders.'
Centennial Cable TV's local operation passes 300,000 contiguous homes and is
franchised to pass 1.1 million residents.
The system is wrapping up a digital upgrade.
Centennial -- controlled by investors Welsh, Carson, Anderson & Stowe and
a Blackstone Group affiliate -- mostly owns and operates wireless phone
networks, and its biggest hub is in the Caribbean region.
Adelphia Communications Corp. also has been trying to sell a cable system in