Alltel completes property swap

Alltel reports it has finished a property swap with US Cellular, completing an agreement set on Sept. 13. The carrier was required to sell its Kansas and Nebraska markets by the US Department of Justice as a condition to its takeover of Western Wireless, which closed in the third quarter.

Alltel agreed to sell 15 rural markets in Kansas and Nebraska for $50 million in cash and ownership of two rural service area markets in Idaho. Alltel is keeping ownership of the Kansas and Nebraska properties it operated prior to its takeover of Western Wireless, as well as ownership of the Lincoln, Neb., market, which was previously owned by Western Wireless.

For more details on the Alltell/US Cellular deal:
- see this Alltel press release

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