Thursday, November 5, 2009

AT&T Adds 893,000 Wireless Subscribers Through Centennial Acquisition

AT&T completed its acquisition of Centennial Communications, adding approximately 893,000 wireless subscribers across the Midwest and Southeast United States and in Puerto Rico and the U.S. Virgin Islands.

AT&T said it will move quickly to rebrand Centennial as AT&T. By late January 2010, AT&T products and services will be available at more than 100 Centennial retail locations. Within the same timeframe, AT&T signage will be installed in all Centennial locations. Former Centennial wireless subscribers may keep their existing rate plans, but they will also have the opportunity to migrate to AT&T rate plans without activation or upgrade fees. Existing AT&T customer contracts will not change. In Puerto Rico, the Centennial brand will continue through mid-2010.

As previously announced, Centennial stockholders will receive $8.50 per share in cash. Including net debt, the transaction is valued at $2.7 billion.