Alltel Gets Final Approval for Midwest Wireless Acquisition

6:00 am on October 4, 2006 | Category: Business, Regulation, Telecom Services, Wireless

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The U.S. Federal Communications Commission has given its final approval to Alltel’s $1.08 billion acquisition of Midwest Wireless Holdings LLC, on the condition that the larger company sell some of its assets.

Alltel has agreed to sell its wireless businesses in four Minnesota markets, the FCC ruled in a 5-0 vote. The U.S. Justice Department has also given its approval to the transaction, but attached similar conditions.

By closing this deal, Alltel is gaining around 450,000 wireless subscribers in southern Minnesota, western Wisconsin, and northeastern Iowa. The carrier will also take on the wireless airwaves currently controlled by Midwest Wireless, including a valuable piece of 1.9-MHz PCS spectrum.

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