Monday, July 17, 2006

Alltel Completes Spin-off, Creating Windstream

Alltel completed the spin off its wireline business, which was merged with VALOR Communications Group to create Windstream, a major wireline operator focused on the rural U.S. market. Windstream serves approximately 3.4 million access lines and offers voice, broadband and digital TV services in 16 states. The company has 8,000 employees and about $3.4 billion in annual revenues. Windstream is based in Little Rock, Arkansas. Windstream's common stock is trading on the New York Stock Exchange under the symbol WIN.

Alltel will focus on its nationwide wireless network.