AT&T Acquires Alltel, More Wireless Spectrum for $780 Million

AT&TAT&T is spending $780 million in cash to scoop up more wireless spectrum. The company announced Tuesday that it is buying the U.S. retail wireless operations of a carrier called Atlantic Tele-Network or ATNI. As part of the deal, AT&T will acquire wireless spectrum licenses, network assets, retail stores and approximately 585,000 subscribers. ATNI operates under the Alltel name in the U.S, Its network covers roughly 4.6 million in rural areas in six states including, Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina. The spectrum licenses that AT&T is acquiring are in the 700MHz, 850MHz, and 1900MHz band. AT&T uses 700MHz for its 4G LTE network and the carrier uses 850MHz and 1900MHz for its 2G and 3G networks.

Read the full story at CNET.

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Author:

Shelly Palmer

Shelly Palmer is Managing Director, Digital Media Group at Landmark Ventures/ShellyPalmer a technology focused Investment Banking & Advisory practice specializing in M&A, Financings, Strategic Partnerships and Innovation Access. He is Fox 5 New York's On-air Tech Expert and well known for his work on Fox Television's Shelly Palmer Digital Living as well as his daily radio report on United Stations Radio Networks. For more information, visit shellypalmer.com.

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