Alltel Subsidiary, Western Wireless International Austria Corp., Reaches Agreement to Sell Austrian Wireless Business
August 10 2005 - 8:29AM
Business Wire
Alltel (NYSE:AT) today announced that its subsidiary, Western
Wireless International Austria Corp., has entered into a definitive
agreement to sell its Austrian business, tele.ring Telekom Service
GmbH, to T-Mobile Austria GmbH, a subsidiary of Deutsche Telekom
for approximately $1.6 billion (Euro 1.3 billion). The price is
subject to downward adjustment if, among other things, certain
operating performance targets are not met. The transaction must be
approved by the European Commission and the Austrian
telecommunications regulator. Deutsche Bank Securities Inc. served
as financial advisor to Western Wireless International Austria
Corp. "tele.ring has been an exemplary model of operational
efficiency and execution in one of the most competitive markets in
Europe," said Brad Horwitz, president of Western Wireless
International Holding Corp. "tele.ring CEO Michael Krammer and his
team have done an outstanding job of creating value for their
customers and their shareholders." Alltel is a customer-focused
communications company with more than 15 million customers in 36
states and nearly $10 billion in annual revenues. 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; 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 dispositions and the
integration of acquired businesses, including the integration of
Western Wireless and the disposition of the Austrian and Irish
assets; the uncertainties related to any discussions or
negotiations regarding the sale of any of the international assets;
adverse changes in the terms and conditions of the wireless roaming
agreements of Alltel; 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.
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