STAMFORD, Conn., September 20, 2001 — Citizens Communications announced today that the California Public Utilities Commission has approved the sale of the company's water and wastewater operations to American Water Works, Inc.
The approval is the final approval required to complete the sale of Citizens' ten-state water and wastewater operations to American Water Works, Inc. for approximately $850 million.
The closing of the transaction is expected to occur by October 12, 2001.
The decision was hotly contested in a California PUC meeting by ratepayers who said they are already paying too much for water and that it still isn't meeting quality standards.
The sale of Citizens' water and wastewater operations is an integral part of the part of the company's planned divestiture of its public service operations in order to focus upon telecommunications.
About Citizens Communications
Citizens Communications serves 2.5 million access lines in 24 states and is acquiring an additional 63,000 access lines. Citizens owns approximately 85 percent of Electric Lightwave, Inc. More information on Citizens may be found at www.czn.net.
