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AT&T Completes Purchase of Centennial

After nearly a full year of review, AT&T Inc. (NYSE: T) said Friday it has completed its acquisition of Centennial Communications.

The deal was originally thought to add about 1.1 million subscribers, but after divestitures, AT&T will gain about 893,000 new wireless customers for a total of more than 80 million subscribers, but it still trails Verizon Wireless. Along with the $945 million purchase price, AT&T will be taking on Centennial's debt, which pushes the total value of the transaction to about $2.7 billion, AT&T said.

The acquisition expands AT&T's wireless footprint, particularly in the Midwestern and Southeastern United States, as well as in the U.S. Virgin Islands and Puerto Rico. The holdings in Puerto Rico may have been a reason the review process was lengthy. Sprint Nextel expressed concern to the Federal Communications Commission over its ability to connect calls in that region after the AT&T-Centennial merger.

To continue reading, see the full story at InformationWeek.com

— Marin Perez, InformationWeek

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