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Alltel bought officially
VERIZON WIRELESS COMPLETES PURCHASE OF ALLTEL; CREATES NATION’S LARGEST WIRELESS CARRIER Acquisition Will Expand Nation’s Most Reliable Wireless Network and Deliver Advanced Wireless Broadband Network to Millions More Customers Across the United States The acquisition expands Verizon Wireless’ network coverage to approximately 290 million people, nearly the entire United States population, and increases the company’s customers by 12.9 million, after conforming adjustments and before required divestitures, making it the largest wireless carrier in the country with more than 83.7 million total customers, based on third quarter 2008 reported results from both companies. Approximately 2.1 million of those total customers are in markets that will be divested by Verizon Wireless in the coming months, as required by the Department of Justice (DOJ) and the Federal Communications Commission (FCC) as a condition of the merger approval. Market Integration In markets that will be retained and combined with Verizon Wireless’ operations, the company will continue to use the Alltel brand for the next several months, as it works to integrate networks, convert billing systems and upgrade high-speed wireless broadband service. Verizon Wireless will maintain Alltel’s existing GSM networks in retained Alltel markets to continue serving the roaming needs of GSM carriers’ customers. Alltel customers in markets to be retained will receive a letter during the next few weeks informing them about the purchase and the wide array of new and advanced services that will be available to them when they transition to Verizon Wireless, including the latest wireless data services delivered on the nation’s largest 3G high-speed wireless broadband network. In addition, when Alltel systems are upgraded in the near future, Alltel customers will have access to the largest mobile-to-mobile calling community in the country, allowing them to use their mobile-to-mobile minutes for calls with Verizon Wireless customers without using their plan minutes. Alltel customers do not need to take any action at this time. Customers’ current service plans, prices and features, including My Circle, will remain the same throughout the transition. Verizon Wireless will notify customers, by mail, about any changes that may impact their service in the future. Since Verizon Wireless and Alltel use the same technology platform, the vast majority of customers will be able to use their current handset after the transition to Verizon Wireless. Additional information for customers is available at www.alltel.com. Verizon Wireless will re-brand Alltel operations in the retained markets in phases, beginning in the second quarter and continuing through the third quarter of 2009, as billing conversions are completed throughout the country. During the transition period, Alltel-branded stores will remain open to serve customers. Alltel employees below executive level will continue in their present jobs as Verizon Wireless assesses staffing needs required to best serve customers and achieve synergies. Divestiture Markets As a condition of the regulatory approvals by the DOJ and the FCC that were required to complete the Alltel purchase, Verizon Wireless will divest overlapping properties in 105 markets across 24 states. Alltel operations will be divested in most of these markets. Verizon Wireless will divest its own pre-merger operations in four markets, as well as the Rural Cellular Corporation (RCC) operations in southern Minnesota and western Kansas, operating under the Unicel brand, which Verizon Wireless acquired last August. Verizon Wireless has placed licenses and assets for the markets to be divested in a management trust. The trust will continue to operate the markets under their current brands until they are sold to one or more buyers. As a result, these markets will not be integrated into Verizon Wireless operations. Financial Information Verizon Wireless expects to realize synergies with a net present value, after integration costs, of more than $9 billion, driven by aggregate capital and operating expense savings. Verizon Wireless used a combination of cash generated from operations, Alltel cash, proceeds from capital markets transactions, and borrowings from lenders under credit facilities, including the borrowing, immediately prior to the acquisition, of $12.35 billion under a new 364-day credit facility, to purchase the equity of Alltel and to acquire and repay Alltel’s debt. Following the completion of a series of financing transactions later today, Alltel and its subsidiaries will have reduced the debt that is owed to third parties to approximately $2.7 billion, which is expected to decline further to approximately $2.5 billion within the next 30 days. Verizon Wireless announced its agreement, subject to regulatory approval, to acquire Alltel in June 2008. The DOJ approved the transaction in October and the FCC approved it in early November. EDITOR’S NOTE: A list of markets to be divested, by state and county, appears at the end of this release. ### About Verizon Wireless Verizon Wireless operates the nation’s most reliable wireless voice and data network, serving 83.7 million customers. Headquartered in Basking Ridge, N.J., with 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). For more information, go to: www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia. Alltel Properties that will be sold State/CMA Alabama Dothan AL MSA (CMA 246); Dale, Houston AL RSA 7 (CMA 313); Butler, Coffee, Covington, Crenshaw, Geneva, Pike Arizona AZ RSA 5 (CMA 322); Gila, Pinal California CA RSA 6 (CMA 341); Inyo, Mono Colorado CO RSA 4 (CMA 351); Chaffee, Custer, Fremont, Lake, Park CO RSA 5 (CMA 352); Cheyenne, Elbert, Kit Carson, Lincoln CO RSA 6 (CMA 353); Dolores, Hinsdale, La Plata, Montezuma, Ouray, San Juan, San Miguel CO RSA 7 (CMA 354); Alamosa, Archuleta, Conejos, Mineral, Rio Grande, Saguache CO RSA 8 (CMA 355); Bent, Crowley, Kiowa, Otero, Prowers CO RSA 9 (CMA 356); Baca, Costilla, Huerfano, Las Animas Georgia Albany GA MSA (CMA 261); Dougherty, Lee GA RSA 6 (CMA 376); Crawford, Harris, Meriwether, Pike, Talbot, Taylor, Upson GA RSA 7 (CMA 377); Johnson, Laurens, Washington, Wilkinson GA RSA 8 (CMA 37; Bulloch, Burke, Candler, Emanuel, Glas****, Jefferson, Jenkins, Screven, Treutlen, Warren GA RSA 9 (CMA 379); Clay, Crisp, Dooly, Macon, Marion, Quitman, Randolph, Schley, Stewart, Sumter, Terrell, Webster GA RSA 10 (CMA 380); Ben Hill, Bleckley, Coffee, Dodge, Irwin, Jeff Davis, Montgomery, Pulaski, Telfair, Turner, Wheeler, Wilcox GA RSA 12 (CMA 382); Camden, Glynn, Liberty, Long, McIntosh, Wayne GA RSA 13 (CMA 383); Baker, Calhoun, Decatur, Early, Grady, Miller, Mitchell, Seminole, Thomas Idaho ID RSA 2 (CMA 389); Adams, Gem, Idaho, Payette, Valley, Washington ID RSA 3 (CMA 390); Boise, Custer, Lemhi Illinois IL RSA 8 (CMA 401); Alexander, Franklin, Jackson, Jefferson, Johnson, Massac, Perry, Pulaski, Randolph, Union, Washington, Williamson IL RSA 9 (CMA 402); Clay, Edwards, Gallatin, Hamilton, Hardin, Lawrence, Pope, Richland, Saline, Wabash, Wayne, White Iowa Sioux City IA-NE MSA (CMA 253); Woodbury, Dakota IA RSA 8 (CMA 419); Crawford, Harrison, Monona, Shelby IA RSA 16(CMA 427) Cherokee, Lyon, O'Brien, Osceola, Plymouth, Sioux Michigan Muskegon MI MSA (CMA 181) Muskegon, Oceana Minnesota MN RSA 1 (CMA 482); Kittson, Marshall, Pennington, RedLake, Roseau MN RSA 2 (CMA 483); Beltrami, Clearwater, Lake of the Woods, Mahnomen, Norman Montana Billings MT MSA (CMA 26; Yellowstone Great Falls MT MSA (CMA 297); Cascade MT RSA 1 (CMA 523); Flathead, Glacier, Lake, Lincoln, Pondera, Sanders, Teton MT RSA 2 (CMA 524); Blaine, Chouteau, Hill, Liberty, Toole MT RSA 4 (CMA 526); Daniels, Dawson, McCone, Richland, Roosevelt, Sheridan, Wibaux MT RSA 5 (CMA 527); Granite, Lewis and Clark, Mineral, Missoula, Powell, Rivalli MT RSA 6 (CMA 52; Broadwater, Deer Lodge, Jefferson, JudithBasin, Meagher, Silver Bow, Wheatland MT RSA 7 (CMA 529); Fergus, Golden Valley, Musselshell, Petroleum, Stillwater, Sweet Grass MT RSA 8 (CMA 530); Beaverhead, Gallatin, Madison, Park MT RSA 9 (CMA 531); Big Horn, Carbon, Rosebud, Treasure MT RSA 10 (CMA 532); Carter, Custer, Fallon, Powder River, Prairie Nevada NV RSA 2 (CMA 544); Elko, Eureka, Lander NV RSA 5 (CMA 547); Lincoln, White Pine New Mexico Las Cruces NM MSA (CMA 285) Dona Ana NM RSA 1 (CMA 553); Cibola, McKinley, Rio Arriba, San Juan, Taos NM RSA 5 (CMA 557); Grant, Hidalgo, Luna NM RSA 6 (CMA 55; Chaves, Eddy, Lee, Lincoln, Otero North Carolina Hickory NC MSA (CMA 166); Alexander, Burke, Catawba NC RSA 2 (CMA 566); Avery, Caldwell, Mitchell, Watauga, Yancey NC RSA 5 (CMA 569); Anson, Montgomery, Richmond, Scotland North Dakota BismarckND (CMA 29; Burleigh, Morton Fargo-Moorehead ND-MN MSA (CMA 221); Clay, Cass Grand Forks ND-MN MSA (CMA 276); Polk, Grand Forks ND RSA 1 (CMA 580); Burke, Divide, McLean, Mountrail, Renville, Ward, Williams ND RSA 2 (CMA 581); Benson, Bottineau, Cavalier, McHenry, Pierce, Ramsey, Rolette, Towner ND RSA 3 (CMA 582); Barnes, ****ey, Griggs, LaMoure, Nelson, Pembina, Ransom, Richland, Sargent, Steele, Traill, Walsh ND RSA 4 (CMA 583); Adams, Billings, Bowman, Dunn, Golden Valley, Grant, Hettinger, McKenzie, Mercer, Oliver, Sioux, Slope, Stark ND RSA 5 (CMA 584); Eddy, Emmons, Foster, Kidder, Logan, McIntosh, Sheridan, Stutsman, Wells Ohio Lima OH MSA (CMA 15; Allen, Auglaize, Putnam, Van Wert Mansfield OH MSA (CMA 231); Richland OH RSA 2 (CMA 586); Erie, Huron, Sandusky, Seneca OH RSA 3 (CMA 587); Ashtabula OH RSA 5 (CMA 589); Crawford, Han****, Hardin, Marion, Wyandot OH RSA 6 (CMA 590); Ashland, Coshocton, Holmes, Knox, Licking, Morrow, Wayne South Carolina Anderson SC MSA (CMA 227) Anderson SC RSA 1 (CMA 625); Oconee SC RSA 2 (CMA 626); Abbeville, Edgefield, Greenwood, Laurens, McCormick, Newberry, Saluda SC RSA 3 (CMA 627); Cherokee, Chester, Fairfield, Union SC RSA 7 (CMA 631); Allendale, Bamberg, Barnwell, Calhoun, Orangeburg South Dakota Rapid City SD MSA (CMA 289); Meade, Pennington Sioux Falls SD MSA (CMA 267); Minnehaha SD RSA 1 (CMA 634); Butte, Harding, Lawrence, Perkins SD RSA 2 (CMA 635); Campbell, Corson, Dewey, Potter, Walworth, Ziebach SD RSA 3 (CMA 636); Brown, Edmunds, Faulk, McPherson, Spink SD RSA 4 (CMA 637); Clark, Codington, Day, Deuel, Grant, Hamlin, Marshall, Roberts SD RSA 5 (CMA 63; Custer, Fall River, Shannon SD RSA 6 (CMA 639); Bennet, Gregory, Haakon, Jackson, Jones, Lyman, Mellette, Stanley, Todd, Tripp SD RSA 7 (CMA 640); Aurora, Brule, Buffalo, Charles Mix, Davison, Douglas, Hand, Hughes, Hyde, Jerauld, Sully SD RSA 8 (CMA 641); Beadle, Brookings, Kingsbury, Lake, Miner, Moody, Sanborn SD RSA 9 (CMA 642); Bon Homme, Clay, Hanson, Hutchinson, Lincoln, McCook, Turner, Union, Yankton Tennessee TN RSA 8 (CMA 650) Johnson Utah UT RSA 3 (CMA 675); Juab, Millard, Sanpete, Sevier UT RSA 4 (CMA 676); Beaver, Iron, Washington UT RSA 5 (CMA 677); Carbon, Daggett, Duchesne, Emery, Grand, Uintah UT RSA 6 (CMA 67; Garfield, Kane, Piute, San Juan, Wayne Virginia Danville VA MSA (CMA 262); Pittsylvania, DanvilleCity VA RSA 1 (CMA 681); Buchanan, ****enson, Lee, Russell, Wise, NortonCity VA RSA 8 (CMA 68; Amelia, Brunswick, Lunenberg, Mecklenburg, Nottoway Wyoming Casper WY MSA (CMA 299); Natrona WY RSA 1 (CMA 71; Big Horn, Hot Springs, Park, Washakie WY RSA 2 (CMA 719); Campbell, Crook, Johnson, Sheridan, Weston WY RSA 4 (CMA 721); Albany, Goshen, Laramie, Niobrara, Platte WY RSA 5 (CMA 722); Converse Verizon Wireless Properties that will be sold Michigan MI RSA 5 (CMA 476) Benzie, Lake, Leelanau, Manistee, Mason, Missaukee, Osceola, Wexford MI RSA 7 (CMA 47 Gratiot, Isabella, Mecosta, Montcalm, Newaygo Minnesota MN RSA 7 (CMA 48; (see also Unicel) Chippewa, Kandiyohi, McLeod, Meeker, Nicollet, Renville, Sibley Nebraska NE RSA 5 (CMA 537). Boone, Butler, Colfax, Dodge, Merrick, Nance, Platte, Polk, Saunders, Washington Unicel (RCC) Properties that will be sold KS RSA 1 (CMA 42; Cheyenne, Decatur, Rawlins, Sheridan, Sherman, Thomas KS RSA 2 (CMA 429); Graham, Norton, Osborne, Phillips, Rooks, Smith KS RSA 6 (CMA 433); Gove, Greeley, Lane, Logan, Scott, Wallace, Wichita KS RSA 7 (CMA 434); Barton, Ellis, Ness, Pawnee, Rush, Russell, Trego KS RSA 11 (CMA 43; Finney, Grant, Hamilton, Haskell, Kearny, Morton, Seward, Stanton, Stevens KS RSA 12 (CMA 439); Clark, Ford, Gray, Hodgeman, Meade KS RSA 13 (CMA 440) Barber, Comanche, Edwards, Kiowa, Pratt, Stafford Minnesota MN RSA 7 (CMA 48 (see also VzW) Chippewa, Kandiyohi, McLeod, Meeker, Nicollet, Renville, Sibley MN RSA 8 (CMA 489) Lac qui Parle, Lincoln, Lyon, Redwood, Yellow Medicine MN RSA 9 (CMA 490) Brown, Cottonwood, Jackson, Martin, Murray, Nobles, Pipestone, Rock, Watonwan MN RSA 10 (CMA 491) Blue Earth, Faribault, Freeborn, Le Sueur, Rice, Steele, Waseca |
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Re: Alltel bought officially
holy cow, man. its almost like verizon is a quasi-monopoly, and i can't figure out why. I just switched from VZW to Sprint, and dropped my family's bill by $60/month ($220 to $180)... not to mention added unlimited data, more shared minutes, and two sweet-as-hell touch pro's (which was my reason for leaving vzw... didn't want to pay $30/month per line for "unlimited" data).
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Re: Alltel bought officially
Wonder whats going to happen to the Alltel plans. From what i can see in the commercials, they are more competitively priced (cheaper in laymans terms ) than most of VZs plans.
Wonder if they will go the way of ATT/Cingular and allow the plans to co-exist...hmmm -s
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Re: Alltel bought officially
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Re: Alltel bought officially
Well its hard to do well when you've been the resident captain of the fail train for some time. Their coverage in many areas is more comparable to T-Mobile instead of ATT/VZW and T-Mo has long been rated highly for their customer service while Sprint has not. The good news for Sprint is that Dan Hesse seems to be a smart, competent guy and is making some things happen for them. If he can keep it up then Sprint could be thriving again before long. if not they will die or be bought out...
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Re: Alltel bought officially
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