ATN completes acquisition of former Alltel assets from Verizon Wireless

27 Apr 2010

Atlantic Tele-Network (ATN) has announced that it has completed the purchase of certain former Alltel wireless assets from Verizon Wireless. The total purchase price was USD223 million, which included USD23 million of acquired net working capital. The purchase was funded by a combination of cash on hand and borrowings and was completed through the company’s wholly owned subsidiary, Allied Wireless Communications Corporation (AWCC). The purchase includes wireless properties and licences that serve approximately 895,000 subscribers in Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho. ATN expects that these assets will generate approximately USD500 million in annual service revenues during the first twelve months of its operation.

United States, Verizon Wireless