Cincinnati Bell Inc. announced that it has received a non-binding proposal from an infrastructure fund to acquire all of the outstanding shares of common stock of Cincinnati Bell for US$ 12.00 per share in cash.

Cincinnati Bell previously announced on December 23, 2019, that it has entered into a definitive agreement through which Brookfield Infrastructure and its institutional partners would acquire all of the outstanding shares of common stock of Cincinnati Bell for US$ 10.50 per share in cash.

Cincinnati Bell has commenced discussions with the Fund regarding the Proposal following Cincinnati Bell's board of directors having made the required determinations under the Brookfield Merger Agreement that allow it to do so. The Brookfield Merger Agreement remains in effect and accordingly, the Cincinnati Bell board reaffirms its existing recommendation in support of the transaction with Brookfield Infrastructure at this time.

Cincinnati Bell Inc.has headquarters in Cincinnati, Ohio. Cincinnati Bell delivers integrated communications solutions to residential and business customers over its fiber-optic and copper networks including high-speed internet, video, voice, and data. The Company provides services in areas of Ohio, Kentucky, Indiana, and Hawaii. In addition, enterprise customers across the United States and Canada rely on CBTS and OnX, wholly-owned subsidiaries, for efficient, scalable office communications systems and end-to-end IT solutions.

Morgan Stanley & Co. LLC and Moelis & Company LLC are acting as financial advisors and Cravath, Swaine & Moore LLP, Morgan, Lewis & Blockius LLP, and BosseLaw PLLC are acting as legal advisors to Cincinnati Bell.