Tags: US | AT&T | Acquisition

AT&T Wraps $2.35B Buy of Wireless Properties

Wednesday, 23 June 2010 09:40 AM

AT&T Inc. said Tuesday it has completed its acquisition of wireless properties in 18 states from Verizon Wireless for $2.35 billion in cash.

AT&T said the acquisition boosts its wireless network coverage across primarily 79 rural service areas in states including Alabama, Arizona, California, Colorado, Nevada, Michigan, Utah and Wyoming.

Verizon agreed to divest the properties when it purchased Alltel last year.

Once AT&T completes the network transition, roughly 1.6 million subscribers in the service areas will be able to connect to the company's 3G mobile broadband network, AT&T said.

The process should take about 12 months.

Shares in AT&T fell 8 cents to close at $25.36.

© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
SciTech
AT T Inc. said Tuesday it has completed its acquisition of wireless properties in 18 states from Verizon Wireless for $2.35 billion in cash.AT T said the acquisition boosts its wireless network coverage across primarily 79 rural service areas in states including Alabama,...
US,AT&T,Acquisition
107
2010-40-23
Wednesday, 23 June 2010 09:40 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved