More Products:
ALLTEL Communications - Company Report
|
Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
ALLTEL Corporation was founded in 1983 through the merger of Allied Telephone and Mid-Continent Telephone. ALLTEL Communications Inc is the communications business unit of ALLTEL Corporation. The company owns subsidiaries that provide wireless and wireline local, long-distance, network access and Internet services. At the end of 2005, the company had more than 15 million customers in 36 states. In December 2005, ALLTEL announced that its directors had approved the spin-off of its wireline telecommunications business to its stockholders and the merger of that wireline business with Valor Communications Group Inc. ALLTEL's operations will consist solely of its wireless business following the completion of the spin-off, which is expected to occur by mid-2006. Upon completion of the merger, ALLTEL stockholders will own around 85% of the outstanding equity interests of the surviving corporation and the stockholders of Valor will own the remaining 15% of such equity interests. In January 2006, ALLTEL received antitrust clearance from the Federal Trade Commission to spin off its wireline operations and merge the business with Valor. During 2005, ALLTEL accelerated wireless growth by expanding its customer base and creating what the company claims to the nation's largest wireless network. During 2005, the company completed transactions with PSC Wireless, US Cellular, and Cingular Wireless, and completed its merger with rival rural wireless operator, Western Wireless. At the end of 2005, ALLTEL claimed to be the nation's fifth-largest wireless carrier with more than 10.6 million wireless customers. ALLTEL common stock is traded on the New York and Pacific Stock Exchanges.
This Company Intelligence Report was produced as part of
|
Order the 
Download the