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AT&T to acquire rest of Alltel for USD 780 mln
2013-01-22 20:54:00| Telecompaper Headlines
(Telecompaper) AT&T has signed an agreement with Atlantic Tele-Network (ATNI) to acquire the company's US retail wireless operations, operated under the Alltel brand for USD 780 million in cash. Under the terms of the agreement, AT&T will acquire wireless properties, including licenses, network assets, retails stores and approximately 585,000 subscribers. The acquisition includes spectrum in the 700 MHz, 850 MHz and 1900 MHz bands and is largely complementary to AT&T's existing network. ATNI currently operates a retail CDMA network for its subscribers in these areas. AT&T expects integration costs for network conversion from CDMA will not result in significant dilution to EPS or impact to cash flow. The transaction is subject to review by the Federal Communications Commission and the Department of Justice and to other customary closing conditions and is expected to close in the second half of the year.
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Category:Telecommunications