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.

W. David Gardner, Contributor

March 16, 2006

1 Min Read

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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