Zayo Group Holdings, Inc. (NYSE:ZAYO) Files An 8-K Other Events
Item 8.01. Other Events.
On Zayo Group Holdings, Inc. fiscal second quarter 2019 earnings call, management made several statements concerning the tactics around the company’s previously announced plan to split into two public companies. For clarity, management has issued the following statement:
The Unleash plan we announced in November was designed to increase focus on the infrastructure, or Network, segment, simplify operations, and separate certain higher level services and customers into a separate entity, along with the Allstream segment. While the tenets of this plan remain intact, we no longer believe it is in shareholders’ best interests for the separation to include a public spin.
About Zayo Group Holdings, Inc. (NYSE:ZAYO)
Zayo Group Holdings, Inc. is a provider of bandwidth infrastructure in the United States, Canada and Europe. The Company operates in five segments, including Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other. Its key products include leased dark fiber, fiber to cellular towers and small cell sites, wavelength connections, Ethernet, Internet Protocol (IP) connectivity and cloud services. Its products and services enable high-bandwidth applications, such as cloud-based computing, video, mobile, social media and machine-to-machine connectivity. As of June 30, 2016 the Company owned fiber networks in 300 metro markets, including metro areas, such as New York, Chicago, San Francisco, Paris, and London, as well as smaller metro areas, such as Allentown, Pennsylvania, Fargo, North Dakota, and Spokane, Washington. The Company also provides its network-neutral colocation and interconnection services utilizing its own data centers.