RCN: ConEd Deal Done

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RCN Corp. closed its acquisition of Consolidated Edison Inc.’s Consolidated Edison Communications Holding Co. Inc. telecommunications subsidiary.

The acquired company will do business under the name RCN Business Solutions.

RCN said it secured all of the necessary regulatory approvals. The transaction was previously approved by the two companies’ boards of directors and RCN's required lenders.

RCN paid $32 million for CEC, plus approximately $7 million in working capital and capital-expenditure adjustments at closing.

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