Shenandoas’ Mcleeus Communications was one of the most profitable telecommunications companies in the country in 2018, according to a report by a research firm.
Mcleodus was acquired by the Chinese telecom giant Tencent in 2018 for $24 billion.
The deal was approved by the U.S. government.
The report estimates that Tencent’s deal generated a net $8 billion in revenue for Shenandoas in 2018.
Mcleus was the second most profitable company in the nation.
Telstra also made a deal with Tencent.
That deal was valued at $19 billion.
This year, the Chinese company signed a $25 billion agreement with Telstra for its voice, video, Internet and wireless services.