AT&T Expects to Complete Asset Deal with Verizon Wireless in Q1 2010

AT&T anticipates its pending acquisition of wireless assets from Verizon Wireless to be completed in the first quarter of 2010. In addition, AT&T anticipates its pending sale of former Centennial Communications Corp. wireless assets to Verizon Wireless to be completed in the first quarter of 2010.


On May 8, 2009, the two companies entered into an agreement under which AT&T would acquire properties from Verizon Wireless, including licenses, network assets and 1.5 million subscribers (as of signing) in 79 service areas across 18 states. Verizon Wireless is required to divest these properties as part of the regulatory approvals granted for its purchase of Alltel earlier this year. The transaction primarily represents former Alltel assets, but it also includes assets from Verizon Wireless and the former Rural Cellular Corporation. At the same time, the companies entered into an agreement under which Verizon Wireless would acquire from AT&T wireless properties, including licenses, network assets and nearly 120,000 subscribers (as of signing) in five service areas in Louisiana and Mississippi. The five service areas are Lafayette, La., LA-5 (Beauregard), LA-6 (Iberville), LA-7 (West Feliciana) and MS-8 (Claiborne).
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