Verizon Wireless Buys Cellular One Company
Dec 19, 2001, 4:23 AM by (staff)
Price Communications Corp. said on Wednesday it agreed to sell its wireless business to Verizon Wireless, the nation's largest wireless telephone company, for $1.15 billion, under revised conditions. The new agreement will give Verizon Wireless more presence in the U.S. Southeast, where Price serves 563,000 customers under the Cellular One brand. Verizon will get all of Price's wireless business assets including 41 company-owned retail stores, a regional call center in Atlanta, and network infrastructure. Price's wireless licenses cover about 3.4 million potential subscribers.