"public assets to a private corporation".  Worked well in the past here in Alaska/Anchorage:
Anchorage Telephone Utility (ATU) -> Alaska Communications Systems (ACS) -> GCI Wireless (which just happens to be the only part of ACS worth having).
White Alice Communications System (a United States Air Force telecommunication network) -> RCA Alascom.  My SWAG is for way less than a penny on the dollar.
Anybody remember what the rates did later?