XO Communications No Longer For Sale

6:30 am on October 19, 2006 | Category: Business, Corporate, Telecom Services, Telephone

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XO Holdings said earlier this week that it plans to continue focusing on its core telecommunications business, and will not sell its wireline telephone division, XO Communications.

For the past several months, XO has been conducting a review of strategic alternatives for the company, since the termination of an agreement with business telecom provider, Elk Associates.

The company revealed in a statement that it had received several purchase offers for the XO Communications division, “but credible offers that would have significantly enhanced shareholder value did not materialize.”

Because of this, XO Holdings is no longer actively seeking a buyer for the company, and will soon begin marketing two new lines of telecom services, namely XO Business Services and XO Carrier Services.

Owned by billionaire financier, Carl Icahn, and an number of other shareholders, XO Holdings is the parent company of XO Communications and Nextlink Wireless.

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