AT&T wraps $2.35B buy of wireless properties

June 23, 2010

(AP) -- 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.

Explore further: AT&T to buy territories from Verizon for $2.35B

0 shares

Related Stories

AT&T to buy territories from Verizon for $2.35B

May 9, 2009

(AP) -- AT&T Inc. said Friday it will buy the assets of Verizon Wireless in 79 mainly rural areas for $2.35 billion, a deal that will affect more than 1 million subscribers.

Verizon 1st-qtr profit, revenue beat expectations

April 27, 2009

(AP) -- Verizon Communications Inc. said Monday its earnings grew 5 percent in the first quarter, boosted by its acquisition of Alltel Corp. and strong demand for its wireless, Internet and TV services.

Briefs: Verizon upgrades Texas network

December 28, 2005

Verizon Wireless announced Wednesday it has completed more than $290 million in enhancements to its Texas voice and data wireless network this year.

AT&T sues Verizon in Ga. over 'map for that' ads

November 4, 2009

(AP) -- AT&T Inc. is suing Verizon Wireless over its competitor's "There's a Map for That" commercials, saying in a lawsuit filed Tuesday that the ads are misleading and amount to deceptive trade practices.

Recommended for you

Chinese fans trash blackout as Google AI wins again

May 25, 2017

Chinese netizens fumed Thursday over a government ban on live coverage of Google algorithm AlphaGo's battle with the world's top Go player, as the programme clinched their three-match series in the ancient board game.

Shedding light on how humans walk... with robots

May 24, 2017

Learning how to walk is difficult for toddlers to master; it's even harder for adults who are recovering from a stroke, traumatic brain injury, or other condition, requiring months of intensive, often frustrating physical ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.