Article: El Paso Corporation Announces Strategic Partnership for Telecommunications Unit.

El Paso Corporation today announced that it has obtained a strategic partner for its telecommunications business. Genesis Park, L.P., a Houston-based private equity firm focused on technology and growth companies, has invested $10 million in the convertible preferred stock of El Paso Networks, L.P. As a result of its investment, Genesis Park will own a 28-percent interest in El Paso Networks and its broadband system. The system currently provides telecommunications services to wholesale customers in major metropolitan areas in Texas, including Dallas/Ft. Worth, Austin, Houston, and San Antonio. In addition, Paul Hobby, founding partner of Genesis Park, will become ...

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