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AT&T Buys Centennial for $944 Million
AT&T has agreed to acquire Centennial Communications for a cash deal of $944 million. The deal will add approximately 1.1 million customers to its subscriber base. Centennial has operations in rural areas of the Midwest and Southeast United States, along with Puerto Rico and the U.S. Virgin Islands. Despite the purchase, the combined Verizon-Alltel entity will remain larger than AT&T once Verizon's acquisition of Alltel is complete. AT&T hopes the deal will close by the second quarter of 2009.
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