Alltel buys Midwest Wireless for $1B

In order to fill in gaps in its coverage area, Alltel inked a deal to acquire Midwest Wireless for $1 billion. The agreement will add approximately 400,000 customers in Iowa, Minnesota and Wisconsin to Alltel's subscriber base. The deal is still contingent upon regulatory approval, but the companies expect it to close in the first half of 2006. Back in August, Alltel spent $4.5 billion and added 2 million customers by acquiring Western Wireless. That deal led to a 30 percent increase in the company's third-quarter mobile phone service revenue. Alltel currently provides over 15 million customers in 36 states with wireless, local and long-distance, Internet and broadband services.

For more on Alltel's acquisition of Midwest Wireless:
- check out this article from the AP

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