Friday, May 5, 2006
TelePacific Buys Mpower For $204M
Los Angeles-based TelePacific Communications, a provider of telecommunication services for businesses in California and Nevada, said today it will pay $204M to acquire Mpower Communications, a provider of residential and wholesale telecommunication services in California, Las Vegas, Nevada and Chicago, Illinois. TelePacific's largest shareholder is Investcorp, along with Clarity Partners. TelePacific's advisors were Brown Brothers Harriman & Co. and Credit Suisse. Mpower's advisors were Morgan Stanley, Evercore Partners and Shearman & Sterling LLP.