Vectren to Sell Sigecom Stake
Energy holding company Vectren (VVC) said Monday it agreed to sell its remaining stake in Sigecom, an Evansville, Ind., cable television, high-speed Internet, and telephone services provider.
Vectren sold the stake to WideOpenWest, a telecommunications company serving Illinois, Indiana, Michigan and Ohio, for an undisclosed sum.
Vectren expects the transaction to close in the fourth quarter. It said that its portion of the sale should approximate the book value of its telecommunications investment.
"This decision is consistent with our previous discussions of narrowing our nonutility portfolio and provides us the opportunity to redeploy capital into our core businesses," the company said. "Further, WideOpenWest's track record of outstanding customer service closely aligns with Sigecom's operating philosophy."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV