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ALLTEL completes purchase of certain Cingular assets

Discussion in 'Alltel Forum' started by CrossroadsTech, Apr 15, 2005.

  1. CrossroadsTech

    CrossroadsTech New Member

    Joined:
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    Location:
    Mississippi
    My Phone:
    Motorola StarTac 7868W
    Wireless Provider(s):
    Alltel
    http://www.alltel.com/news/news_releases/05/april/n411apr1505a.html

    Release date: April 15, 2005


    LITTLE ROCK, Ark. - ALLTEL announced today it has completed the purchase of certain assets from Cingular Wireless LLC, a joint venture between SBC Communications Inc. and BellSouth Corporation.

    Under the terms of the agreement, ALLTEL acquired former AT&T Wireless properties, including licenses, network assets and subscribers, in the following markets: Oklahoma City and Grant, Okla.; Sherman, Denison, and Jack, Texas; Owensboro and Fulton, Ky.; Litchfield, Conn. and Yalobusha, Miss. ALLTEL also acquired 20 MHz of spectrum and the network assets formerly held by AT&T Wireless in Wichita, Kan., along with wireless spectrum in various counties in Georgia and Texas.

    As part of the transaction, the companies also swapped partnership interests, with Cingular receiving interests in markets such as Detroit, Kansas City, Wichita, and several in Texas, including Austin. ALLTEL gained more ownership in markets it manages in Michigan, north Louisiana and Toledo. Additional consideration included $165 million in cash that ALLTEL paid to Cingular.

    ALLTEL is a customer-focused communications company with more than 13 million customers and $8 billion in annual revenues. ALLTEL provides wireless, local telephone, long-distance, Internet and broadband services to residential and business customers in 27 states.

    ALLTEL, NYSE: AT
    www.alltel.com
     

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