Alltel Announces Update Related to Wireline Strategic Review Process
September 22 2005 - 6:30AM
Business Wire
Alltel (NYSE:AT) today announced it has begun a formal process to
assess the market environment for strategic repositioning options
related to its wireline business. The company announced in January
that it would undertake a thorough review of the strategic
alternatives related to its wireline business. During the ensuing
months, Alltel reviewed various capital structures and strategic
alternatives that could be value enhancing to its stockholders. The
formal process currently underway will assess the market appetite
for the wireline repositioning options that Alltel's review
concluded could enhance value for its stockholders. Early
indications are encouraging, and Alltel will provide a further
update when it announces third-quarter earnings results in late
October. 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, including the pending acquisition of
the Idaho markets and the pending dispositions of Western Wireless'
Kansas and Nebraska markets and international assets; the risks
associated with the integration of acquired businesses, including
the integration of Western Wireless; the uncertainties related to
any discussions or negotiations regarding the sale of any of the
international assets or the wireline repositioning; 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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