(SO) Southern Telecom Inks Fiber Agreement

September 9th, 2009

Southern Telecom, the telecommunications subsidiary of Southern Company (SO), has recently signed an agreement with the Florida-based 421 West Church Street to connect its Atlanta, Macon and Jacksonville metro dark fiber networks to the latter’s carrier neutral telecommunication facility. This will help Southern Telecom to expand its presence in the Southeast region as well as to offer better service to its existing customers.

Southern Telecom provides long-haul and metro dark fiber connecting Atlanta with other smaller cities throughout the Southeast region. The company also offers HVAC, power and other custom energy solutions for optronics at its operation hubs and in-line amplification sites on the long-haul routes and points of presence in the metro areas supporting the metro fiber rings.

Shares of Southern Company closed at $31.44 on Tuesday, trading at 13.7X trailing 12-month earnings per share versus 11.8X of the peer group.

We maintain our Neutral recommendation for the company.

Zacks Investment Research
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