AT&T and Verizon finalize asset swap

AT&T Mobility and Verizon Wireless finalized their wireless asset swap, which was first announced last December, after getting regulatory approval from both the FCC and the U.S. Department of Justice.

The deal, which gained approval from the Federal Trade Commission in March, gives AT&T some former Rural Cellular licenses and network assets in the Burlington, Vt., metro area as well as areas in upstate New York and Washington State. Verizon acquired Rural Cellular in late July 2007. Verizon gets some assets in Kentucky that AT&T acquired when it merged with Dobson Communications in October 2007. Verizon also gets 10 MHz of PCS spectrum and additional cash from AT&T.
For more:
-see this release

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