No sale, lease or transfer of any franchises or properties within Mississippi, or any part thereof, of any domestic telephone or telegraph company, whether operated by a person, firm or corporation, shall be valid unless, upon a hearing after reasonable notice, the commission shall find that the person, firm or corporation to whom such sale, lease or transfer is proposed to be made is financially and otherwise capable of rendering telephone or telegraph service in a reasonably adequate manner.
Necessity that sales, leases or transfers be made to company capable of providing adequate service
Miss. Code Ann. § 77-3-423, under Determination of Adequacy of Service by Telegraph and Telephone Companies.
Miss. Code Ann. § 77-3-423