ALLTEL ACQUIRES SAVANNAH CELLULAR INTEREST
ALLTEL ACQUIRES SAVANNAH CELLULAR INTEREST LITTLE ROCK, Ark., Nov. 12 /PRNewswire/ -- ALLTEL Mobile
Communications, Inc., a subsidiary of ALLTEL Corporation (NYSE: AT), and Coastal Cellular, a subsidiary of Coastal Utilities, Inc., of Hinesville, Ga., announced today that ALLTEL has agreed to acquire Coastal Cellular's 22 percent interest in the Savannah, Ga., Metropolitan Statistical Area (MSA) wireline cellular system. The Savannah MSA has a population of approximately 260,000. ALLTEL Mobile was elected managing partner of the partnership.
Pending receipt of regulatory approvals, ALLTEL -- which currently holds 38 percent interest in Savannah -- will own 60 percent of the Savannah cellular partnership operating under the name Atlantic Cellular. Joe T. Ford, ALLTEL chairman and president, said, "We are pleased and excited about our further involvement in the Savannah market and feel that this, along with our markets in Augusta and Albany, Ga., gives ALLTEL an extremely strong presence in one of the SunBelt's strong growth states." The additional interests in the Savannah market will raise the number of metropolitan markets where ALLTEL is a majority partner to 10 and will increase the Company's cellular "pops" to nearly 6.5 million. Terms of the transaction were not disclosed. ALLTEL Corporation provides telephone service to 1.2 million customers in 25 states and has subsidiaries or investments in companies that provide cellular telephone, long-distance and information services, communications products and other related services. -0- 11/12/91 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/ (AT) CO: ALLTEL Corporation; Coastal Utilities, Inc. ST: Arkansas, Georgia IN: TLS SU: TNM KK -- CL009 -- 3448 11/12/91 12:08 EST
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|Date:||Nov 12, 1991|
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