It appears unlikely that a private Duffield, Virginia, firm can complete its deal to acquire BVU’s OptiNet division this year, contrary to previous projections.
It has been 669 days since Sunset Digital Communications announced it intended to acquire BVU Authority’s cable TV, internet and phone division for $50 million. On Thursday, Sunset attorney Jeff Mitchell told the authority’s board of directors that negotiations are currently stalled over unresolved aspects of their negotiations.
Mitchell said Sunset sent a document to BVU on Nov. 7 outlining its position on a number of issues but has received no response.
“Our concern is the deal has been stopped for 30 days because we can’t get in a room and resolve these three or four business issues,” Mitchell told the board. “We’ve had no substantive response, and our goal remains to have a conversation to have a fair resolution. If a fair resolution is status quo, then that’s what it will be. We tend to think a couple issues deserve at least an explanation, and we haven’t gotten that explanation.”
