FCC Approves AT&T's Buyout of Alltel
BEVERLY, Mass. -- Atlantic Tele-Network, Inc. (Nasdaq:ATNI) today announced that it has completed the sale of its domestic retail wireless business operated under the Alltel name to AT&T for approximately $780 million. Earlier today, the Federal Communications Commission announced its approval of the proposed sale.
"On behalf of the Company, I'd like to thank all of our employees for their commitment to the Alltel business and its customers," said Michael T. Prior, Chief Executive Officer. "They tackled many hard issues with skill and energy, and we wish them all success in the future. In addition to the continued operation of our remaining domestic and international businesses, we look forward to finding new opportunities to build value for our shareholders."