AT&T Updates Anticipated Completion Date for Acquisition of Divestiture Properties from Verizon Wireless
Dallas, Texas, AT&T* announced that it anticipates its pending acquisition of wireless assets from Verizon Wireless to be completed in the first quarter of 2010. On May 8, 2009, the two companies entered into an agreement under which AT&T would acquire properties from Verizon Wireless, including licenses, network assets and 1.5 million subscribers (as of signing) in 79 service 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 transaction primarily represents former Alltel assets, but it also includes assets from Verizon Wireless and the former Rural Cellular Corporation.
AT&T’s acquisition of the properties remains contingent upon regulatory approval. Reviews by the Federal Communications Commission and the Department of Justice are under way, and both AT&T and Verizon Wireless remain committed to closing the transaction as soon as possible.
*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world’s most advanced IP-based business communications services, the nation’s fastest 3G network and the best wireless coverage worldwide, and the nation’s leading high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of their three-screen integration strategy, AT&T operating companies are expanding their TV entertainment offerings. In 2009, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE® magazine’s list of the World’s Most Admired Companies. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com.
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Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
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