Thursday 12:09am
April 17, 2014
Currently 46°F
Posted: Tuesday, January 22nd 2013 at 9:11am

AT&T to buy Alltel operations for about $780M

By The Associated Press
EMAIL STORY CONTACT EDITOR PRINT
click to enlarge
DALLAS (AP) -- AT&T says it's reached a deal to buy Alltel U.S. wireless operations for about $780 million to boost its spectrum in rural areas.

The Dallas company is buying the licenses, retail stores and network assets, along with about 585,000 subscribers, from Beverly, Mass.-based Atlantic Tele-Network Inc.

Alltel's network covers about 4.6 million people in mainly rural areas across six states - Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina.

Federal regulators are expected to review the deal, the companies said Tuesday. The companies predict that it will close in the second half of the year.

AT&T says it doesn't expect integration costs related to the acquisition to significantly affect its earnings or cash flow.

AT&T shares are down 25 cents to $33.19 in premarket trading Tuesday.
Associated Categories: National News, Business News, Local/State News

© Copyright 2014 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.


  • Click here
  • Click here
  • Click here
  • Click here
  • Click here
0.039379
icon
46°F
Gainesville, GA 30501
Clear
Wind: East 7 mph
Dew point: 28°F