secwatch.observer — SEC 8-K summary
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Issuer:     CINCINNATI BELL INC (—)
CIK:        0000716133
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0000950170-24-133726
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cincinnati Bell completes sale of CBTS IT services business for $670M cash
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- Closed December 2, 2024; CBTS sold for $670M cash, subject to working capital adjustments.
- Net cash proceeds estimated at $662.5M after ~$7.5M in transaction and closing costs.
- Estimated pre-tax gain on sale of $81.8M; after-tax gain of $62.1M.
- Pro forma removes CBTS revenue: $717.2M from FY2023, reducing continuing ops revenue to $1.1B.
- Company retains legacy communications business; TSA with buyer for up to 7 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/716133/000095017024133726/0000950170-24-133726-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/716133/000095017024133726/ck0000716133-20241202.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-133726

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