AT&T Purchases Alltel

January 22,2013

CAP Member, AT&T Inc. inked an all-cash agreement to buy Alltel, an Arkansas telecom services provider to rural areas, for $780 million.

AT&T Mobility is based in Atlanta.

Through the deal with Alltel’s parent, Atlantic Tele-Network Inc., Dallas-based AT&T is getting 585,000 customers in rural areas of six states (not including Texas).

The Alltel business had $350 million in revenue in the first nine months of 2012, generating operating income of about $34 million.

In addition, AT&T is getting spectrum in the 700 megahertz, 850 MHz and 1900 MHz bands.

-Courtesy, Atlanta Business Chronicle