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CIBL To Sell Partnership Interests In Two New Mexico Cellular - Quick Facts

3/23/2012 4:15 PM ET

CIBL Inc. announced that it has reached definitive agreements with Verizon Wireless to sell its partnership interests in two New Mexico cellular partnerships operated by Verizon.

These partnerships serve New Mexico Rural Service Areas or "RSAs" Nos. 3 and 5, covering the counties of Catron, Sierra, Socorro and Valencia (RSA No. 3), and Grant, Hidalgo and Luna (RSA No. 5).

Financial terms have not yet been disclosed. These sales cannot be completed unless a majority of the company's outstanding shares are voted in favor of the sales, and the Company intends to schedule a special meeting of shareholders for late April or early May to conduct the vote.

The company said its board recommended that shareholders approve the sales, and asked that all shareholders promptly return their proxies once they receive them, or attend the special meeting to vote in favor of the transactions.

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by RTT Staff Writer

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