AT&T (NYSE: T) Completes Delayed Acquisition of Centennial Communications (NASDAQ: CYCL)
Posted on 11/6/2009 7:12:15 PM in #Stocks | 0 comments comments
AT&T Inc. (NYSE: T) said Friday that its acquisition of smaller wireless carrier Centennial Communications Corp. (NASDAQ: CYCL) has closed after several delays due to the regulatory process, according to Associated Press. Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks. AT&T bought Wall, N.J.-based Centennial for $944 million in cash. The deal was announced a year ago, and was initially expected to close in the second quarter this year. With the acquisition, AT&T is gaining 879,000 wireless subscribers and an expansion of its wireless network in Puerto Rico and in rural areas of the Midwestern and Southeastern U.S. As part of a deal with regulators, AT&T has committed to selling eight Centennial service areas in Louisiana and Mississippi. In May, it reached a deal to sell five of them to Verizon Wireless (NYSE: VZ) for $240 million. Centennial subscribers who are not in one of the eight markets to be divested are now AT&T subscribers. They can keep their rate plans or move to AT&T plans, the company said. Follow us on Twitter: http://www.twitter.com/pennystockspro Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website. About Us Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below. Please click here to read the full disclaimer. staff@pennystockprofessor.com
www.pennystockprofessor.com
|