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AT&T to acquire Alltel assets for $780 million

ATNI and AT&T strike deal over Alltel for $780 million

By Charles Gantt | Jan 22, 2013 11:49 am CST

This morning AT&T announced that it has signed an agreement with Atlantic Tele-Network to acquire the company's Alltel holdings for $780 million. The acquisition lands AT&T 585,000 new paying customers, some spectrum space, licenses, and all the Alltel retail locations.

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In 2008 Alltel was previously scooped up by AT&T rival Verizon which was ordered to divest subscribers in 105 markets where the US government feared Verizon may grow too large. AT&T had previously secured 79 of those markets with ATNI landing just 26. Today's approval lands AT&T the full 105 markets once owned by Verizon.

AT&T gains spectrum in the 700MHz, 850MHz and 1.9GHz ranges. The big issue lies in Alltel being a GSM carrier, meaning existing customers will have to be "transitioned" to new phones working on ATT's GSM, HSPA and LTE networks. Pending a review by the FCC and Justice Department, the deal should finalize sometime later this year.

Charles Gantt

ABOUT THE AUTHOR - Charles Gantt

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

NEWS SOURCE:theverge.com

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