Alltel to purchase Midwest Wireless
Alltel has agreed to purchase Midwest Wireless' licenses, customers and network assets, including 1.9 PCS spectrum for $1.075 billion in cash. Closing of the transaction is contingent upon regulatory approval and is expected to occur in the first half of 2006. Alltel expects to gain approximately 400,000 wireless customers in southern Minnesota, northern and eastern Iowa, and western Wisconsin. These markets are contiguous to existing Alltel operations and cover a population of 1.9 million with 850 MHz.