AT&T Mobility and Verizon Wireless Complete Wireless Asset Swap
AT&T Mobility Fulfills Regulatory Requirements from Acquisition of Dobson Communications Corporation
Dallas, Texas.-AT&T Inc. (NYSE:T) today announced that AT&T Mobility and Consumer Markets has finalized its swap of wireless assets with Verizon Wireless, following regulatory approval from the FCC and Department of Justice.
Under the terms of the agreement, AT&T Mobility acquired some former Rural Cellular Corporation properties previously acquired by Verizon Wireless, including licenses, network assets and subscribers, in the Burlington, Vt. metropolitan service area and in rural service areas (RSAs) in New York (RSA-2), Vermont (RSA-1, RSA-2) and Washington (RSA-2, RSA-3). AT&T also acquired a cellular license from Verizon Wireless in portions of Kentucky RSA-6.
Also under terms of the agreement, Verizon Wireless acquired from AT&T Mobility some former Dobson Communications Corporation properties, including licenses, network assets and subscribers, in Kentucky RSA-6 and RSA-8. Verizon Wireless also acquired 10 MHz of PCS spectrum in a number of areas and received an additional cash consideration from AT&T Mobility. These transactions satisfy the divestiture requirements related to AT&T Mobility’s acquisition of Dobson last year.
The asset swap with Verizon Wireless extends AT&T Mobility’s coverage and services in New York, Vermont, Washington State and Kentucky. Consumers in those areas now have access to the wireless network with the best global coverage and to the nation’s premier lineup of innovative wireless and wireline products and services, including iPhone 3G. Customers who choose select smartphones — such as the BlackBerry® Bold™, another AT&T Mobility exclusive — and AT&T LaptopConnect cards also enjoy free access to the nation’s largest Wi-Fi network.
This agreement was signed on Dec. 3, 2007, and received final regulatory approval on Dec. 18, 2008.
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