|FCC approves Alltel merger with Western Wireless|
Posted: 12-Jul-2005 [Source: Alltel]
[Alltel gains FCC approval for merger with Western Wireless, shareholder vote scheduled for July 29, merger expected to close shortly thereafter.]
Little Rock, AR -- Alltel announced that the Federal Communications Commission has approved the company's merger with Western Wireless Corporation. The FCC order contains no conditions beyond the divestitures required by the U.S. Department of Justice on July 6.
The Justice Department approved the merger contingent upon divesting 16 markets in Arkansas, Kansas and Nebraska now owned and operated by Western Wireless. The divestiture includes all the assets - licenses, retail stores, employees and cell sites - used to operate the CDMA (Code Division Multiple Access) wireless business in those markets. The company also will divest the Cellular One brand that is owned by Western Wireless.
"Chairman Martin demonstrated admirable leadership during the FCC's review of this transaction. The commission was thorough and thoughtful, yet still beat its 180-day merger review period by almost a month," Alltel President and CEO Scott Ford said. "This transaction should provide Alltel with the opportunity to deliver greater value, innovation and service to our customers across the country."
Western Wireless has scheduled a shareholder vote on the merger for July 29, and the companies expect to close the merger shortly thereafter.
Alltel is a customer-focused communications company with more than 13 million customers in 27 states and $8 billion in annual revenues.
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