LICT Completes Partnership Interest Sale to Verizon

LICT Corporation (OTC Pink ®: LICT) has closed the sale of its minority interest in the Modoc RSA Limited Partnership to Verizon Wireless, the company said.

LICT had announced the signing of a definitive agreement for this transaction on November 26, 2019.

Modoc is a partnership controlled by Verizon Wireless which provides service in a rural area of northern California. A subsidiary of LICT had acquired this interest in Modoc in 1988. The transaction was not subject to any regulatory approvals.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.