AT&T Agrees to Buy Alltel Wireless for $780 Million

AT&T plans to buy Alltel Wireless, which provides communications services in North Carolina and five other states, in a deal worth some $780 million.

AT&T, the nation's second-largest wireless carrier behind Verizon Wireless, agreed to buy spectrum and subscribers from Atlantic Tele-Network Inc., or Alltel as it is known, in a cash deal, bolstering the company's network and bringing in 585,000 new customers.

Alltel's network covers about 4.6 million people in mainly rural areas across six states: Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina.

The deal also includes the purchase of licenses, network assets and retail stores.

The deal, which AT&T expects to be complete in the second half of 2013, still has to be approved by the Federal Communications Commission (FCC) and the Department of Justice.

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