AT&T To Acquire Wireless Spectrum and Assets from Atlantic Tele-Network,
Inc., Enhance Wireless Coverage in Rural Areas
DALLAS -- January 22, 2013
AT&T* today announced that it has signed an agreement with Atlantic
Tele-Network, Inc. (ATNI) to acquire the company’s U.S. retail wireless
operations, operated under the Alltel brand, for $780 million in cash. Under
terms of the agreement, AT&T will acquire wireless properties, including
licenses, network assets, retail stores and approximately 585,000 subscribers.
ATNI operates under the Alltel name in the U.S., and its network covers
approximately 4.6 million people in primarily rural areas across six states —
Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina. The
acquisition includes spectrum in the 700 MHz, 850 MHz and 1900 MHz bands and
is largely complementary to AT&T’s existing network. ATNI currently operates a
retail CDMA network for its subscribers in these areas. AT&T expects that as
it upgrades the network, ATNI customers and existing AT&T customers who roam
in these areas will enjoy an enhanced mobile Internet experience.
AT&T expects integration costs for network conversion from CDMA will not
result in significant dilution to EPS or impact to cash flow. The transaction
is subject to review by the Federal Communications Commission and the
Department of Justice and to other customary closing conditions and is
expected to close in the second half of 2013.
*AT&T products and services are provided or offered by subsidiaries and
affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
AT&T Inc. (NYSE:T) is a premier communications holding company and one of the
most honored companies in the world. Its subsidiaries and affiliates – AT&T
operating companies – are the providers of AT&T services in the United States
and internationally. With a powerful array of network resources that includes
the nation’s largest 4G network, AT&T is a leading provider of wireless,
Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile
Internet, AT&T also offers the best wireless coverage worldwide of any U.S.
carrier, offering the most wireless phones that work in the most countries. It
also offers advanced TV services under the AT&T U-verse^® and AT&T │DIRECTV
brands. The company’s suite of IP-based business communications services is
one of the most advanced in the world.
Additional information about AT&T Inc. and the products and services provided
by AT&T subsidiaries and affiliates is available at http://www.att.com/aboutus
or follow our news on Twitter at @ATT, on Facebook at
http://www.facebook.com/att and YouTube at http://www.youtube.com/att.
© 2013 AT&T Intellectual Property. All rights reserved. 4G not available
everywhere. AT&T, the AT&T logo and all other marks contained herein are
trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All
other marks contained herein are the property of their respective owners.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and
other forward-looking statements that are subject to risks and uncertainties,
and actual results may differ materially. A discussion of factors that may
affect future results is contained in AT&T's filings with the Securities and
Exchange Commission. AT&T disclaims any obligation to update or revise
statements contained in this news release based on new information or
McCall Butler, 917-209-5792
Roberta Thomson, 214-205-4102
Press spacebar to pause and continue. Press esc to stop.