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AT&T, Inc. Message Board

  • wareham2620 wareham2620 May 10, 2009 12:49 AM Flag

    AT&T to buy Verizon Wireless assets

    BOSTON (MarketWatch) -- AT&T has agreed to buy certain wireless assets from Verizon Wireless for $2.35 billion in cash.
    Under the deal, AT&T (T:AT&T Inc
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    Last: 25.25-0.20-0.79%

    4:01pm 05/08/2009

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    T 25.25, -0.20, -0.8%) will acquire licenses, network assets and 1.5 million wireless subscribers in 79 service regions. The subscribers are mostly in rural areas across 18 states.
    Regulators have asked Verizon Wireless to divest certain assets as part of its acquisition of Alltel for $28 billion earlier this year.
    "Wireless continues to be AT&T's greatest growth driver, and this transaction will complement our existing network coverage, particularly in rural areas," said Ralph de la Vega, a senior executive for AT&T, in a statement Friday.
    AT&T said costs associated with the purchase will dilute its earnings per share by about 6 cents for the first year after the closing. The transaction, which still requires regulatory approval, is expected to close during the fourth quarter.
    Verizon Wireless is a joint venture between Verizon Communications Inc. (VZ:verizon communications inc com
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    Last: 29.85-0.01-0.03%

    4:01pm 05/08/2009

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    VZ 29.85, -0.01, 0.0%) and Vodafone Group PLC (VOD:Vodafone Group PLC
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    Last: 18.50+0.19+1.04%

    4:00pm 05/08/2009

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    VOD 18.50, +0.19, +1.0%) .
    Val Brickates Kennedy is a reporter for MarketWatch

    http://www.marketwatch.com/news/story/att-buy-verizon-wireless-assets/story.aspx?guid=%7BB5090A2F%2DED1C%2D4FB5%2D82E8%2DC4FD8D734B44%7D&siteid=yhoof

 
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