AT&T Buys Alltel’s Retail Wireless Business For $780 Million
AT&T has made a deal with Atlantic Tele-Network to acquire their retail wireless operations. Atlantic operates under the Alltel brand and they have sold their retail wireless business to AT&T for $780 million. AT&T will gain ownership of Atlantic Tele-Network’s wireless properties, licenses, network assets, and retail stores. AT&T will also get roughly 585,000 of Alltel’s paying subscribers.
Atlantic Tele-Network currently has a mobile phone network that covers around 4.6 million people in the U.S. that are spread in rural areas across 6 states: Georgia, Idaho, North Carolina, Ohio and South Carolina. AT&T acquired section of the spectrum in the 700 MHz, 850 MHz, and 1900 MHz bands as part of the deal with ATNI. The bands are “largely complementary” to AT&T’s existing network.
AT&T promised that Atlantic Tele-Network and existing AT&T customers will get better mobile Internet connectivity following the acquisition. A couple months ago, AT&T revealed that they are spending $14 billion on broadband infrastructure in the United States. The company followed that up by confirming deployment of LTE networks in 24 new markets.
[Source: TheNextWeb]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry