New Ulm Telecom, Inc. (“New Ulm”) (OTCBB: NULM) announced that an agreement was reached with Iowa Telecommunications Services, Inc. (“ITS”) under which New Ulm will sell to ITS its equity ownership interests in SHAL, LLC (33.33%), SHAL Networks, Inc. (33.33%), Direct Communications, LLC (33.33%) and En-Tel Communications, LLC (approximately 30.88%) for approximately $1.7 million in [...]

Iowa Telecommunications Services, Inc. (NYSE: IWA) announced that it has reached an agreement to acquire New Ulm Telecom Inc.’s ownership interests in En-Tel Communications, LLC, SHAL, LLC, and SHAL Networks, Inc. for $1.7 million, subject to specified customary adjustments. New Ulm Telecom is based in New Ulm, Minnesota.
SHAL owns and leases a 2,500-mile fiber-optic [...]