Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Cingular selling AT&T Wireless assets including customer accounts
Posted on 28-Nov-2004 11:33 | Tags Filed under: News



Cingular Wireless announced they have entered into a definitive agreement on the sale of certain Cingular assets to ALLTEL. The company will sell to ALLTEL former AT&T Wireless properties, including licenses, network assets, and subscribers, in the following markets: Oklahoma City and Grant, Okla.; Sherman-Denison, and Jack, Texas; Owensboro and Fulton, Ky.; Litchfield, Conn. and Yalobusha, Miss. Cingular has also agreed to sell to ALLTEL 20MHz of spectrum and the network assets formerly held by AT&T Wireless in Wichita, Kan. In addition, Cingular is selling to ALLTEL wireless spectrum in several counties in Georgia and Texas.

Through this transaction, Cingular will receive US$170 million in cash from ALLTEL. In addition, the companies will swap some partnership interests, with Cingular receiving interests in such markets as Wichita, Kan., Kansas City, Mo., Milwaukee, and several in Texas. ALLTEL, in turn, will gain more ownership in markets it manages in Michigan, north Louisiana, and Toledo, Ohio.

Cingular says the transaction will allow it to meet a substantial portion of the divestiture obligations imposed by the Department of Justice and Federal Communications Commission as conditions of their approval of Cingular's merger with AT&T Wireless.

Closing of the transaction agreement is contingent upon regulatory approval and is expected to occur in the first quarter of 2005.






comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

Hopeful signs from Netflix
Created by Rikkitic, last reply by networkn on 23-Jan-2018 21:14 (23 replies)
Pages... 2


No Dial Tone From Wiring Bridged Telecom Module (HBG-1008)
Created by Yoban, last reply by SATTV on 21-Jan-2018 16:49 (16 replies)
Pages... 2


Vodafone prepay auto-renew
Created by bagheera, last reply by bagheera on 23-Jan-2018 13:15 (13 replies)

What is the New Cable Going to Mean for NZ?
Created by Pumpedd, last reply by PhantomNVD on 21-Jan-2018 01:35 (36 replies)
Pages... 2 3


Boat electrics help with 2x12v batteries
Created by Hatch, last reply by Hatch on 23-Jan-2018 20:27 (11 replies)

Sulphur in petrol
Created by Rikkitic, last reply by kryptonjohn on 23-Jan-2018 14:27 (9 replies)

Galaxy S8 losing UMTS 3g connectivity
Created by Alan2, last reply by matisyahu on 22-Jan-2018 15:13 (19 replies)
Pages... 2


New laptop, battery full charge capacity already down to 96% original according to HWMonitor
Created by paulchinnz, last reply by Batman on 22-Jan-2018 11:54 (9 replies)