Atlantic Tele-Network to sell U.S. retail wireless business to AT&T

01/23/2013 | Boston Globe (tiered subscription model), The · Bloomberg

AT&T has agreed to pay Atlantic Tele-Network $780 million in cash for wireless operations -- operated as Alltel -- that cover 585,000 mostly rural-based subscribers, as well as spectrum and retail outlets across its six-state region in Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina. Atlantic, which acquired the operations from Verizon Wireless in 2010 for $223 million, is selling licenses in the 700, 850 and 1900 MHz ranges -- compatible with AT&T's network. "We believe Alltel is best suited to be part of a national network with the scale and resources of a national provider like AT&T going forward," said Atlantic CEO Michael Prior.

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Boston Globe (tiered subscription model), The · Bloomberg