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ATN Announces DOJ Approval for Acquisition of Former Alltel Assets

Discussion in 'Alltel Forum' started by KyleAndMelissa22, Apr 15, 2010.

  1. KyleAndMelissa22

    KyleAndMelissa22 Woot Woot, Splat !!!
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    Source: awcc -_allied wireless communications corporation



    SALEM, Mass., April 8, 2010 (BUSINESS WIRE) -- Atlantic Tele-Network, Inc. announced today that the Department of Justice (DOJ) has approved its pending purchase of certain former Alltel wireless assets in six states from Verizon Wireless. By granting this approval, the DOJ has determined that ATN's capabilities and experience will enable it to provide effective competition against existing wireless carriers, and that there are no antitrust concerns associated with the acquisition. Approval by the Federal Communications Commission, which is required to complete the acquisition, is still pending.

    On June 9, 2009, Atlantic Tele-Network announced a definitive agreement to purchase wireless properties, including wireless spectrum licenses and network assets, serving subscribers primarily in rural areas across Georgia, South Carolina, North Carolina, Illinois, Ohio, and Idaho.

    "This is a significant milestone toward completing our acquisition of the Alltel assets, beginning operations and serving our new wireless subscribers," said ATN CEO Michael Prior. "We remain confident that the FCC will join the DOJ in approving ATN's purchase of these assets."





    About Atlantic Tele-Network

    Atlantic Tele-Network, Inc., headquartered in Salem, Massachusetts, is a telecommunications company operating advanced wireless, wireline and both terrestrial and submarine fiber optic networks in North America and the Caribbean. Its principal subsidiaries include: Allied Wireless Communications Corporation, which will provide retail wireless voice and data services for U.S. customers; Commnet Wireless, LLC, which provides voice and data wireless roaming services for U.S. and international carriers in rural areas throughout the United States; Guyana Telephone and Telegraph Company, Limited, which is the national telephone service provider for all local, long-distance and international services, as well as a wireless service provider in Guyana; Bermuda Digital Communications Ltd., which is the leading provider of wireless voice and data services in Bermuda operating as Cellular One, and an early-stage wireless provider in Turks & Caicos through its IslandCom subsidiary; Sovernet, Inc., which provides wireline voice and data services to businesses and homes in New England and high capacity communications network transport services in New York State through its ION subsidiary; and Choice Communications, LLC, which provides wireless broadband services in the U.S. Virgin Islands.
     
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  2. KyleAndMelissa22

    KyleAndMelissa22 Woot Woot, Splat !!!
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    Source: Wireless Week - DOJ Approves Final Alltel Divesture; FCC Next

    The Department of Justice (DOJ) has approved the divesture of Verizon's remaining Alltel assets to Atlantic Tele-Network. The divesture covers 800,000 customers in Idaho, Illinois, Ohio, North Carolina, South Carolina and Georgia. The DOJ approved the $200 million deal after ruling out antitrust concerns and determining that Atlantic Tele-Network would be able to compete against incumbent operators. The deal still needs FCC approval to go through. Company CEO Michael Prior said the company "remained confident" that the FCC would allow the divesture to go through. The acquisition of Verizon's final divesture assets will nearly triple Atlantic Tele-Network's wireless subscriber base, which currently stands at just 319,500, including its international operations. The company expects to have retail wireless subscribers by transaction close. Atlantic Tele-Network runs telecommunication services through its Commnet subsidiary in the rural United States, Bermuda, U.S. Virgin Islands, Turks and Caicos Islands and the South American nation of Guyana. Verizon Wireless' $28.1 billion acquisition of Alltel made it the country's largest operator and attracted the attention of regulators, who required it to divest 105 markets as part of the approval process. Verizon's deal with Atlantic Tele-Network meant it had a buyer for the remaining 26 Alltel markets it was required to divest by the government as part of its acquisition agreement. AT&T purchased the other 79 markets Verizon was required to divest for $2.35 billion and sold some of its Centennial Communications assets to Verizon for $240 million.

    More: http://www.rcrwireless.com/article/...carriers-new-rural-carrier-one-step-closer-to
    http://www.fiercewireless.com/story/atn-gets-justice-dept-approval-alltel-asset-deal/2010-04-08
     
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