Verizon Wireless Finds Buyer for Remaining Alltel Assets
Official Statement from Atlantic Tele-Network
Atlantic Tele-Network to Acquire Divestiture Properties from Verizon Wireless...
Business Wire SALEM, Mass. -- June 09, 2009 Atlantic Tele-Network, Inc. (NASDAQ:ATNI) today announced a definitive agreement to acquire certain wireless assets from Verizon Wireless for $200 million. Under terms of the agreement, ATN will acquire wireless properties, including wireless spectrum licenses and network assets,serving over 800,000 subscribers primarily in rural areas across Georgia,North Carolina, South Carolina, Illinois, Ohio, and Idaho. Verizon Wireless is required to divest these properties as part of the re
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rmtp22 said:
USCC is a cash and carry only company. USCC did not want to go into debt for the purchase.
I doubt that was the reason. The purchase price was only $200 million. For 26 Cellular 850 MHz markets and 800,000 subs, that is a fire sale price.
VZW obviously wanted the deal to close, hence dumped the remaining ALLTEL assets at below market value. And, perhaps, VZW did not want to sell them to a competitor that it hopes to later acquire.
AJ
rmtp22 said:
Yes - I would agree with you. I was more referring to the overall package (The 76 markets that ATT agreed to buy). Thought the Dakota's and WY would have been a great addition.
The going rate in that recent divestment transaction between VZW & AT&T was greater than $1500 per subscribed POP. The going rate in this divestment transaction between VZW & Commnet was only $250 per subscribed POP.
AJ
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