The Hawai'i Department of Commerce and Consumer Affairs' Cable Television Division conditionally approved the proposed merger deal between Cincinnati Bell Inc. and Hawaiian Telcom Holdco Inc.
Hawai'i DCCA approved the deal after Cincinnati Bell agreed to invest $20 million to improve and build out Hawaiian Telcom's Next Generation Fiber Network statewide within four years of the close of the transaction, according to a Dec. 8 news release.
Cincinnati Bell has also committed to continuing local management of Hawaiian Telcom in Hawai'i, and honoring its union labor agreements. The company also promised to adhere to laws and rules regarding customer privacy as well as open Internet.
Hawaiian Telcom shareholders recently approved the planned transaction, while The Federal Communications Commission and the Public Utilities Commission of the State of Hawai'i are still reviewing the deal.
The deal is expected to close as soon as all regulatory approvals and other customary closing conditions are met.