Brief: Alltel Acquires Wireless Assets For $455 MillionBrief: Alltel Acquires Wireless Assets For $455 Million
The assets, which include 2 million new subscribers in the Carolinas, were purchased from Palmetto MobileNet LP.
March 16, 2006
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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