Alltel Purchases Former AT&T Wireless Properties From Cingular

Little Rock, AK -- Alltel announced today it has completed the purchase of certain assets from Cingular Wireless, a joint venture between SBC Communications Inc. and BellSouth Corporation.

Under the terms of the agreement, Alltel acquired former AT&T Wireless properties, including licenses, network assets and subscribers, in the following markets: Oklahoma City and Grant, Okla.; Sherman, Denison, and Jack, Texas; Owensboro and Fulton, Ky.; Litchfield, Conn. and Yalobusha, Miss. Alltel also acquired 20 MHz of spectrum and the network assets formerly held by AT&T Wireless in Wichita, Kan., along with wireless spectrum in various counties in Georgia and Texas.

As part of the transaction, the companies also swapped partnership interests, with Cingular receiving interests in markets such as Detroit, Kansas City, Wichita, and several in Texas, including Austin. Alltel gained more ownership in markets it manages in Michigan, north Louisiana and Toledo. Additional consideration included $165 million in cash that Alltel paid to Cingular.

Source: Alltel