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Brief: Alltel Acquires Wireless Assets For $455 Million
The assets, which include 2 million new subscribers in the Carolinas, were purchased from Palmetto MobileNet LP.
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Cell phone service provider Alltel reported Thursday that it has purchased wireless partnerships that cover some 2 million people in the Carolinas. CT Communications, which owned a piece of the partnerships, said the deal totaled about $455 million.
The assets were purchased from Palmetto MobileNet, L.P., according to the firms involved in the transaction. CTC noted that it has held a 22.4 percent interest in Palmetto.
The partnerships cover some 34 counties across South Carolina and 7 counties in western North Carolina.
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