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Alltel Completes Retail Wireless Sale to AT&T

After a delay, AT&T has wrapped its purchase of Atlantic Tele-Network’s (ATN) Alltel retail wireless business for $780 million.

The FCC put the sale on hold last month after saying it didn’t get enough information regarding how AT&T will help Alltel’s prepaid customers switch to its network. But the agency was apparently satisfied by the end of last week when it approved the deal.

"… I’d like to thank all of our employees for their commitment to the Alltel business and its customers," said Michael T. Prior, ATN CEO. "They tackled many hard issues with skill and energy, and we wish them all success in the future. In addition to the continued operation of our remaining domestic and international businesses, we look forward to finding new opportunities to build value for our shareholders."

AT&T, which already owned a significant portion of Alltel, gets spectrum, licenses, retail locations and customers in the deal. Almost all of Alltel’s old wireless assets are now either owned by AT&T or Verizon,  which acquired a large part of Alltel in 2008.

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