AT&T's purchase of Centennial will close in Q3

AT&T's $944 million purchase of Centennial Communications likely will close in third quarter 2009, the two companies said today. The deal, which was announced in November and approved by Centennial stockholders in February, is still being scrutinized by the Department of Justice and the FCC.

AT&T's acquisition of Centennial includes the assumption of Centennial's debt, bringing the total amount of the deal to around $2.8 billion. The move came on the heels of AT&T's $275 million purchase of WiFi service provider Wayport.

In May, AT&T announced an agreement with Verizon Wireless to sell certain wireless assets of Centennial to Verizon Wireless for $240 million. The transaction is contingent on completion of AT&T's acquisition of Centennial.

The purchase should net AT&T about 1.1 million Centennial customers in Puerto Rico, the U.S. Virgin Islands, the Great Lakes region and the Gulf Coast.   

For more:
- see this press release

Related Articles:
Centennial looks to approve AT&T merger
AT&T buys Centennial for $944M
AT&T acquires Wayport, boosts WiFi presence
Verizon's Alltel acquisition: What are the ramifications?

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