Alaska Communications stockholders approve ATN International takeover

17 Mar 2021

Alaska Communications has announced that – based on the preliminary voting results from a special meeting of stockholders held on Friday 12 March 2021 – its stockholders have approved the adoption of the company’s previously announced takeover by ATN International and its financial partner Freedom 3 Capital. The two buyers have created a new entity in order to carry out the transaction and upon closing Alaska Communications will become a consolidated, majority-owned and operated subsidiary of ATN. Alaska Communications notes that the consummation of the merger remains subject to the receipt of certain regulatory approvals and certain other customary closing conditions set forth in the initial agreement. The transaction is expected to close in the third quarter of 2021.

TeleGeography notes that ATN International – which was formerly known as Atlantic Tele-Network Inc – is a publicly traded investment firm with operating subsidiaries that deliver communications and renewable energy services to underserved areas. Its US businesses include regional cellco Choice Wireless, and the Navajo Nation-focused Choice NTUA Wireless. Meanwhile, outside of the US, it owns GT&T in Guyana, One Communications (Bermuda), Viya (US Virgin Islands) and Logic (Cayman Islands). In November 2020 ATN teamed up with Australian tower firm Stilmark (in which it holds a strategic stake) and Canadian pension fund OMERS to create a new consortium designed to jointly pursue opportunities in Australian telecoms infrastructure sector. The new company was immediately linked with an AUD2 billion (USD1.5 billion) bid for the tower portfolio belonging to Optus.

United States, Alaska Communications, ATN International (formerly Atlantic Tele-Network)