Cingular sells AT&T Wireless chunk to Alltel
Nov 26 2004 - 03:09 PM ET | AT&T Wireless
As part of the AT&T Wireless takeover, Cingular is divesting a small portion of AT&T Wireless equipment in a sale to Alltel. Alltel has agreed to purchase $170 million worth of AT&T Wireless spectrum and network assets from Cingular.
The sale was made to comply with conditions set by the FCC and DOJ. Markets in Oklahoma, Texas, Kentucky, Connecticut, Georgia and Mississippi are a part of the deal.
The transaction still needs approval for the feds and is expected to close in the first quarter of 2005.
