Alltel, Justice Department reach terms on Western Wireless merger
July 06 2005 - 2:00PM
Business Wire
Alltel (NYSE: AT) today announced it has reached an agreement with
the U.S. Department of Justice related to the company's pending
merger with Western Wireless Corporation. Under the agreement,
Alltel will divest 16 markets in Arkansas, Kansas and Nebraska now
owned and operated by Western Wireless. The divestiture agreement
includes all the assets - licenses, retail stores, employees and
cell sites - used to operate the CDMA (Code Division Multiple
Access) wireless business in those markets. The company also will
divest the Cellular One brand that is owned by Western Wireless.
Alltel today filed a Form 8-K with the U.S. Securities and Exchange
Commission that outlines financial information related to the
divested markets. The divestiture of the CDMA operations includes
one market in Arkansas that covers Columbia, Hempstead, Lafayette
and Nevada counties; six markets that include all of Western
Wireless' operations in Kansas; and nine markets that include all
of Western Wireless' operations in Nebraska with the exception of
Lincoln, Neb. In addition to the Lincoln market, Alltel will retain
ownership of the entire PCS spectrum now held by Western Wireless
as well as all assets used solely to operate Western Wireless' GSM
roaming business. Alltel and Western Wireless will complete the
merger later this summer, pending receipt of approvals from the
Federal Communications Commission, the U.S. federal district court
in Washington, D.C., and Western Wireless' stockholders. Western
Wireless has scheduled a shareholder vote on the merger proposal
for July 29. Alltel is a customer-focused communications company
with more than 13 million customers and $8 billion in annual
revenues. Alltel provides wireless, local telephone, long-distance
and broadband data services to residential and business customers
in 27 states. Alltel claims the protection of the safe-harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
subject to uncertainties that could cause actual future events and
results to differ materially from those expressed in the
forward-looking statements. These forward-looking statements are
based on estimates, projections, beliefs, and assumptions and are
not guarantees of future events and results. Actual future events
and results may differ materially from those expressed in these
forward-looking statements as a result of a number of important
factors. Representative examples of these factors include (without
limitation) adverse changes in economic conditions in the markets
served by Alltel and Western Wireless; the extent, timing, and
overall effects of competition in the communications business;
material changes in the communications industry generally that
could adversely affect vendor relationships with equipment and
network suppliers and customer relationships with wholesale
customers; changes in communications technology; the risks
associated with pending acquisitions and the integration of
acquired businesses; adverse changes in the terms and conditions of
the wireless roaming agreements of Alltel and Western Wireless; the
uncertainties related to Alltel's strategic investments; the
effects of litigation; and the effects of federal and state
legislation, rules, and regulations governing the communications
industry. In addition to these factors, actual future performance,
outcomes, and results may differ materially because of more general
factors including (without limitation) general industry and market
conditions and growth rates, economic conditions, and governmental
and public policy changes. Alltel, NYSE: AT www.alltel.com
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