LITTLE ROCK, Ark. (AP) — Broadband and communications company Windstream Corp. has formed a new holding company in a move that it says will give it more financial and strategic flexibility.
The holding company is named Windstream Holdings Inc. The company said Friday that it will be publicly traded and serve as the parent company of Windstream Corp. and its subsidiaries.
The new company will start trading on the Nasdaq on Tuesday under the "WIN" ticker symbol. Existing shares of Windstream Corp. will convert to equivalent shares of Windstream Holdings stock on a one-for-one basis at 4 p.m. EDT on Friday.
The existing Windstream board will oversee both companies. There is no change in the company's dividend practice.