Cincinnati Bell plans to sell shares in its CyrusOne data center business through an initial public offering, the company said late Thursday. Cincinnati Bell (CBB) confirmed that it may operate CyrusOne as a real estate investment trust(REIT), a corporate structure used by other large data center developers. It has not yet determined when the IPO would take place.
Cincinnati Bell said in February that it was studying a spinoff or IPO for its thriving CyrusOne colocation business. The move could allow Cincinnati Bell to benefit from investor interest in the data center and cloud computing sector, while shifting significant capital expenses off the telecom company’s balance sheet.