[AT&T] AT&T today announced a definitive agreement to acquire wireless assets from Verizon Wireless for $2.35 billion in cash. Under terms of the agreement, AT&T will acquire wireless properties, including licenses, network assets and 1.5 million current subscribers in 79 service areas, primarily in rural areas across 18 states. Verizon Wireless is required to divest these properties as part of the regulatory approvals granted for its purchase of Alltel earlier this year. The states represented are: Alabama, Arizona, California, Colorado, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Tennessee, Utah, Virginia and Wyoming.
As a result of the transaction and upon transition of the operations to AT&T, the subscribers in these service areas will be able to enjoy the benefits of AT&T’s 3G broadband network. AT&T has the nation’s fastest 3G network, now available in nearly 350 major metropolitan areas, with 20 more planned by the end of the year.
AT&T to Acquire Divestiture Properties from Verizon Wireless, Enhance Network Coverage and Customer Service
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