AT&T to buy Alltel Wireless assets

By doris | Published: May 9, 2009

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PHILADELPHIA (Reuters) — AT&T Inc said Friday it will buy the bulk of Alltel Wireless assets being divested by Verizon Communications Inc for $2.35 billion, and will sell some Centennial Communications Corp assets to Verizon Wireless for $240 million.

Under terms of the deal, AT&T (T, Fortune 500) will buy licenses, network assets and 1.5 million subscribers in 79 service areas, mostly rural areas in 18 states, the company said in a statement.

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