The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

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Nov 14 9:30 AM EST

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To: DaveMG who wrote (2062)	10/6/1999 12:06:00 PM
From: slacker711	Read Replies (1) of 13582

A little bit of news....AT&T is expanding. ATT in Joint Phone Venture NEW YORK (AP) - AT&T Corp. (NYSE:T - news) and a rural wireless company are teaming up to acquire American Cellular Corp., an operator of small Cellular One franchises in 10 states. The price tag of $2.32 billion includes cash contributions of $370 million each from AT&T and partner Dobson Communications of Oklahoma City. The remainder will be funded through bank debt. American Cellular has about 398,000 subscribers in New York, Wisconsin, Minnesota, Michigan, Kentucky, Tennessee, West Virginia, Ohio, Pennsylvania and Illinois. It operates under the Cellular One trade name, which is owned and franchised by the regional phone company SBC Communications and Western Wireless Corp. (Nasdaq:WWCA - news) Dobson will be responsible for day-to-day management of a new, equally owned venture with AT&T that the companies have created to buy and operate American Cellular. The boards of all three companies have approved the transaction, which is expected to close in the first quarter of 2000. The merger also requires the approval of American Cellular's shareholders and federal regulatory agencies. The deal extends the reach of Dobson's wireless operations from 11 states with 5.9 million potential subscribers to 17 states with 10.8 million potential subscribers. AT&T Wireless Services is one of the nation's largest providers of mobile phone service with more than 10 million customers.

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