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Brookefield Infrastructure to buy telecom services provider Cincinnati Bell

Reuters

(Reuters) - Brookefield Infrastructure Partners LP <BIP.N> will buy telecommunications company Cincinnati Bell Inc <CBB.N> for about $529.42 million (406.81 million pounds), the companies said on Monday.

Under the deal, Cincinnati Bell shareholders will receive $10.50 per share, representing a premium of 36% to the company's Friday closing price.

Including debt, the deal is valued at $2.6 billion.

(Reporting by Neha Malara in Bengaluru; Editing by Vinay Dwivedi)