AT&T Buys Alltel for $780M (1/23/13)
Wednesday, January 23, 2013 | Comments

AT&T signed an agreement with Atlantic Tele-Network Inc. (ATNI) to acquire the company’s U.S. retail wireless operations, operated under the Alltel brand, for $780 million in cash. AT&T will acquire wireless properties, including licenses, network assets, retail stores and about 585,000 subscribers.

ATNI operates under the Alltel name in the United States, and its network covers about 4.6 million people in primarily rural areas across six states — Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina. The acquisition includes spectrum in the 700 and 850 MHz and 1.9 GHz 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 said that as it upgrades the network, ATNI customers and existing AT&T customers who roam in these areas will have an enhanced mobile Internet experience. AT&T expects integration costs for network conversion from CDMA will not result in significant dilution to earnings per share (EPS) or impact to cash flow.

The transaction is subject to review by the FCC, the Department of Justice and to other customary closing conditions and is expected to close in the second half of 2013.

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