The consolidation in the wireless industry continues. Fresh off the news that Verizon's acquisition of Alltel is likely to go through, AT&T is also acquiring a smaller player.
According to the AP and Mercury News, AT&T has agreed to acquire Centennial Communications (NASDAQ: CYCL) for a cash deal of $944 million. The deal will add approximately 1.1 million customers to its subscriber base. Centennial has operations in rural areas of the Midwest and Southeast United States, along with Puerto Rico and the U.S. Virgin Islands.
AT&T hopes the deal will close by the second quarter of 2009.
Sunday, November 9, 2008
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