Overview
- Stonepeak will hold a majority stake in the combined company, while Alphabet remains a significant minority shareholder.
- GFiber’s existing executive team will lead operations of the newly formed independent provider.
- The companies say uniting GFiber’s high-growth metro networks with Astound’s established footprint creates a complementary national platform.
- The transaction requires customary regulatory review before closing later this year, and financial terms were not disclosed.
- The enlarged provider will compete with Comcast, Charter and AT&T as well as regional fiber players and 5G home internet offerings.