1 May 2007 -- PPL Corporation announced that it is seeking a buyer for its PPL Telcom subsidiary, which provides broadband connectivity for telecommunication companies, wireless and Internet service providers and large businesses and institutions.
Located in the mid-Atlantic region, PPL Telcom's network utilizes more than 4,000 route miles of fiber with advanced optical systems, and provides service to customers throughout the northeast corridor from New York to Washington, D.C.
Once an agreement of sale is executed, PPL expects the sale process to take several months to complete. In connection with the decision to proceed with the sale process, the company expects to take an unusual after-tax charge of about $18 million, or 5 cents per share of PPL Corporation earnings, in the first quarter of 2007. This charge will not affect PPL's 2007 forecast of earnings from ongoing operations.