AT&T Announces Purchase of Edge Wireless
AT&T Inc. (NYSE:T) has announced that AT&T, through an affiliate, has entered into a definitive agreement with Edge Wireless Holding Company to acquire full ownership in Edge Wireless LLC (ďEdge WirelessĒ), a regional wireless company with approximately 172,000 subscribers that operates in several markets in the Pacific Northwest.
Under the terms of the agreement, AT&T, which has held a minority ownership interest since Edge Wirelessí inception in 2000, will acquire the remaining 64.3 percent of the company.
The addition of Edge Wirelessí GSM network will complement AT&Tís existing GSM networks in Northern California, Oregon, Idaho and Wyoming. AT&T customers will enjoy broader in-network coverage in these areas, and Edge Wireless customers will gain access to AT&Tís full portfolio of products and services as well as AT&Tís fully integrated GSM network, which now covers more than 290 million people in 13,000 U.S. cities and towns.
The transaction is contingent upon regulatory approval and is expected to close by mid-2008.
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