RICHMOND, Va. - Dominion (NYSE: D) said today that it closed
Thursday on the sale of its Dominion Telecom unit to a subsidiary of Elantic
Networks Inc. Terms of the transaction were not disclosed.
Dominion, headquartered in Richmond, Va., is one of the nation's
largest producers of energy. Elantic Networks, a Richmond-based telecommunications
company, is expected to enter into a management agreement with Cavalier Telephone
LLC to operate the business after the transaction is completed.
Merrill Lynch & Co. acted as exclusive financial advisor
to Dominion in connection with this transaction.
