November 30, 2004
Alltel Adds Assets
Alltel Communications will buy wireless licenses and network assets in Kansas, Oklahoma, Texas, Kentucky, Connecticut, Georgia and Mississippi from Cingular Wireless. Alltel will acquire Cingular subscribers in some of those areas.
Cingular will get $170 million in cash.
Alltel and Cingular, a joint venture of SBC Communications Inc. and BellSouth Corp., will also swap some interests. Cingular will pick up some in Kansas and Texas as well as in Kansas City, Mo., and Milwaukee while Alltel will gain some in Louisiana, Michigan and Ohio.
The companies' announcement said the deal will meet a substantial part of the divestiture requirements imposed on Cingular by the Department of Justice and Federal Communications Commission as conditions of their approval of the merger with AT&T Wireless. -- Virgil Larson