After the deal is completed they would each retain 8 percent ownership of TCOM and each have one board seat.
Some profit is retained for operating costs and capital credits.
The deal should take three to four months to finalize, Potter said. Services would include basic telephone service, high-capacity lines, video conferencing, private networks and access to the Internet. LPEA and Empire entered the telecommunications field after hearing years of complaints about the lack of high-speed Internet access and hearing U S West s refusal to build the lines because they weren t profitable enough, Potter said. Still, he doubted LPEA would take the leadership role in a similar venture. Contents copyright 2000, the Durango Herald.