After more than a year of negotiating, Verizon Wireless has officially bought Rural Cellular for more than $2.5 billion. The purchase price includes assuming some of Rural Cellular's debt. The FCC, as a condition of the deal going through, has required licenses to be sold in six markets for improved competition. Verizon Wireless apparently accepted the deal.
PR Newswire
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/08-07-2008/0004863555&EDATE=
"The acquisition will expand Verizon Wireless' network coverage to many
rural markets around the country and increases the company's customers by
more than 625,000.
The purchase will increase Verizon Wireless' licensed coverage area by
4.7 million people, and will add licenses covering markets in Maine, New
Hampshire, Massachusetts, Alabama, Mississippi, Minnesota, North Dakota,
South Dakota, Wisconsin, Idaho, Washington and Oregon."
Thursday, August 7, 2008
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