AT&T Completes Acquisition of Alltell’s Assets Over the Weekend for $780 MillionComments Off on AT&T Completes Acquisition of Alltell’s Assets Over the Weekend for $780 Million
After the FCC approved AT&T’s acquisition of Alltel’s assets, AT&T went ahead with the completion of the transaction and closed the deal over the weekend for a grand total of $780 million. AT&T acquired wireless properties in six states, including spectrum licenses, network assets, retail stores and approximately 590,000 subscribers. The Alltel network covers approximately 4.5 million people in mainly rural areas in Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina.
“We welcome Alltel customers to the AT&T family, and we think they will love everything they can do on our superfast 4G network,” said AT&T Georgia President Sylvia Russell. “We’ve invested more than $4.5 billion in our wireless and wired networks in Georgia since 2010, including more than $675 million in the first half of 2013.”
AT&T plans to immediately begin work upgrading the Alltel network to their latest 4G LTE technology and hope to have this task completed by the summer of 2014. AT&T expects its 4G LTE network to reach 300 million people by the end of next year.