Atlantic Tele-Network Buys Remaining Alltel Verizon Merger Assets

We have covered the monumental Alltel Verizon merger in this blog since the rumor of this union first came out. Last April, we reported that the completion of the Alltel Verizon merger has been delayed due to a lack of buyers for the assets that are required to be divested. In fact Verizon was forced to file a request for an additional 60 days to close the divestitures.

Fortunately, it appears that the Alltel Verizon merger will finally come into completion as a new buyer has been found. Apparently, Atlantic Tele-Network, Inc. has agreed to buy the final 26 Alltel Wireless markets from Verizon Wireless. Atlantic Tele-Network needed to shell out around $200 million to acquire this assets.

In case you haven't heard about the Atlantic Tele-Network, let me give a brief background on this wireless network. This company holds it headquartes in Salem, MA. Atlantic Tele-Network currently provides telecommunications services in the United States, Guyana, Bermuda, the U.S. Virgin Islands and Turks and Caicos. Atlantic Tele-Network runs a subsidiary called Commnet Wireless, which provides wireless voice and data roaming services for U.S. and International carriers.

The remaining Alltel Verizon merger assets cover some 800,000 subscribers in Idaho, Illinois, Ohio, North Carolina, South Carolina and Georgia.

However, the purchase of these Alltel Verizon merger assets still needs to undergo review and approval by the Department of Justice and the Federal Communications Commission. Once the regulatory approval the deal will close later this year.

Since buyers for all 105 of the markets it was required by the FCC to divest as a condition of the Alltel Verizon merger are complete, this chapter in wireless network history is finally coming to a close.

Thjat's it for thisa update on the Alltel Verizon merger. Tune in to this blog for more news and info on wireless networks and carriers.