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TMCNet:  FCC delays clearance of AT&T takeover of Alltel [Global Data Point]

[August 29, 2013]

FCC delays clearance of AT&T takeover of Alltel [Global Data Point]

(Global Data Point Via Acquire Media NewsEdge) The FCC has halted its review of AT&T's proposed takeover of Altantic Tele-network's mobile unit, as it awaits more information from the company on its plans for Alltel's prepaid customers. The regulator said it had received more information on plans to migrate ATN's postpaid customers to AT&T after the deal, but was still waiting for a detailed response on what will happen to ATN's "significant" prepaid base. As a result the FCC "stopped the clock" on the 180-day deadline for completing the review, on 27 August, the 175th day of the process. It will restart once it receives the information from AT&T. The agreement to acquire the activities was first announced in January, for a value of USD 780 million cash. At the time Alltel had 585,000 customers.

(c) 2013 Global Data Point. All Rights Reserved. Provided by Syndigate.info an Albawaba.com company

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