teleguy
Enthusiast
Apr 16, 2005, 12:14 PM
Post #1 of 1
(1073 views)
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Alltel and ATT/Cingular customers in these areas should be aware of how these swaps affect them.
Are you in one of these areas? It would be interesting to hear what and how your carrier notifies you of the effect this may have.
Some positives and negatives for both sides in this deal. How is it working out for you?
(posted in Alltel and ATT , Cingular forums)
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ALLTEL completes purchase of certain Cingular assets
For additional information contact:
ALLTEL: Andrew Moreau 501-905-7962
Vice President - Corporate Communications
andrew.moreau@alltel.com
Rob Clancy 501-905-8991
Vice President | Investor Relations
rob.clancy@alltel.com
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
from http://www.alltel.com/news/news_releases/05/april/n411apr1505a.html
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