ALLTEL, Liberty Cellular Complete $600 Million Merger
January 18, 2007
For additional information contact:
Corporate Communications 501-905-8000
corporate.communications@alltel.com
Release date: Sept. 30, 1999
LITTLE ROCK, Ark. - ALLTEL and Liberty Cellular, Inc., of Kansascompleted their $600 million merger today, increasing ALLTEL'scommunications operations into 25 states.
Liberty Cellular was a privately held communications company offeringwireless, paging, long-distance and Internet services in Kansas.
Under terms of the agreement, the stock of Liberty, which operatesunder the name Kansas Cellular, and its affiliate, KINI L.C., will beexchanged for a total of 7,000,000 shares of ALLTEL common stock, whichrepresents a transaction value of about $600 million. The transactionwill be accounted for as a pooling-of-interests.
The merger connects ALLTEL's Missouri properties with the recently acquired Aliant Communications properties in Nebraska.
The transaction includes the 15 cellular rural service areas in Kansas and all or part of 100 of the state's 105 counties.
"ALLTEL's geographic communications footprint now reaches half thecountry with the merger of ALLTEL and Liberty Cellular and makes themerged company a more formidable competitor in the communicationsmarketplace," said Joe T. Ford, ALLTEL chairman and chief executiveofficer.
Liberty's communications operations consist of the following:
After a transition period, the merged company will market its products under the ALLTEL brand.
ALLTEL is a customer-focused, information technology company thatprovides wireline and wireless communications and information services.
Alltel, NYSE: AT
www.alltel.com
Corporate Communications 501-905-8000
corporate.communications@alltel.com
Release date: Sept. 30, 1999
LITTLE ROCK, Ark. - ALLTEL and Liberty Cellular, Inc., of Kansascompleted their $600 million merger today, increasing ALLTEL'scommunications operations into 25 states.
Liberty Cellular was a privately held communications company offeringwireless, paging, long-distance and Internet services in Kansas.
Under terms of the agreement, the stock of Liberty, which operatesunder the name Kansas Cellular, and its affiliate, KINI L.C., will beexchanged for a total of 7,000,000 shares of ALLTEL common stock, whichrepresents a transaction value of about $600 million. The transactionwill be accounted for as a pooling-of-interests.
The merger connects ALLTEL's Missouri properties with the recently acquired Aliant Communications properties in Nebraska.
The transaction includes the 15 cellular rural service areas in Kansas and all or part of 100 of the state's 105 counties.
"ALLTEL's geographic communications footprint now reaches half thecountry with the merger of ALLTEL and Liberty Cellular and makes themerged company a more formidable competitor in the communicationsmarketplace," said Joe T. Ford, ALLTEL chairman and chief executiveofficer.
Liberty's communications operations consist of the following:
- 200,000 customers;
- A state-of-the-art wireless digital network with more than 1,350 miles of fiber optic cable;
- Dedicated long-distance and Internet access services;
- 11 company-operated sales locations;
- 164 cellular sites;
- 91 paging transmission sites.
- $6 billion in annual revenues;
- More than $10 billion in assets;
- About 8 million communications customers in 25 states;
- More than 24,000 employees worldwide;
- More than 825 company-operated sales locations.
After a transition period, the merged company will market its products under the ALLTEL brand.
ALLTEL is a customer-focused, information technology company thatprovides wireline and wireless communications and information services.
Alltel, NYSE: AT
www.alltel.com
