Verizon Wireless to Purchase SureWest’s Mobile Phone Business

5:55 am on January 23, 2008 | Category: Business, Corporate, Telecom Services, Wireless

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SureWest Communications, a regional telecom carrier serving parts of California, announced yesterday that it had agreed to sell its mobile phone business to Verizon Wireless for $69 million.

The assets being sold include all of SureWest’s wireless licenses, as well as its entire wireless customer base, which included 50,000 subscribers at the end of the third quarter. SureWest will use the proceeds of this sale to pay off debt incurred from its recent acquisition of Everest Broadband.

The deal is expected to close sometime in the second quarter of this year, after receiving approval from federal telecommunications regulators.

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