AT&T purchase Centennial Communications Corp for $944m

AT&T has purchased Centennial Communications Corp for the sum of $944 million, and if the deal closes it will bring Centennial’s 1.1 million customers under the AT&T umbrella adding to their customer base of 74.9 million.

President and CEO of AT&T Mobility, Ralph de la Vega, said: “This transaction enhances network coverage for our consumer and business customers and is expected to create long-term value for AT&T’s stockholders.”

The transaction will enhance AT&T’s coverage in rural areas of the Midwest, Puerto Rico, Southeast US and the US Virgin Islands. Although AT&T currently sits as top carrier in the States they are soon to be unseated to the 2ns position by Verizon’s acquisition of Alltel.

Source — RCR

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