AT&T Purchases Verizon Wireless Territories
May 9, 2009 by Stephen Kersey
Filed under Business
AT&T and Verizon Wireless are usually fierce competitors in the lucrative wireless communication industry. However, with Verizon Wireless forced to sell their assets in nearly 80 areas in the United States due to government regulations, AT&T decided to buy the assets for a reported price of $2.35 billion.
The areas, which are mostly rural, account for approximately one million former Verizon Wireless customers. Those subscribers will now have to switch over to AT&T to keep their wireless service. AT&T said that the transfer will be complete near the end of 2009.
Due to the addition of Alltel Corporation and Rural Cellular, Verizon …read more
