Cincinnati Bell (NYSE:CBB) remains an interesting turnaround story, which recently received a tangible catalyst in the form of the sale of its legacy wireless business to Verizon (NYSE:VZ).
Given the wireless business had been in a state of decline over the last several years, I think the sale will ultimately improve the turnaround story at CBB as it focuses on its two growth drivers: (1) fiber optics pay-TV and high speed internet and (2) its 69% interest in CyrusOne (NASDAQ:CONE), a fast growing data warehousing, colocation business.
(click to enlarge)
CBB data by YCharts
Wireless Business Sale
As part of its turnaround, management reported that it wanted to stabilize the wireless business while looking...
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