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ALLTEL AND SLT COMMUNICATIONS, INC. MODIFY TERMS OF SUGAR LAND ACQUISITION

 ALLTEL AND SLT COMMUNICATIONS, INC.
 MODIFY TERMS OF SUGAR LAND ACQUISITION
 LITTLE ROCK, Ark., Oct. 27 /PRNewswire/ -- ALLTEL Corporation (NYSE: AT) and SLT Communications, Inc. announced today that they have agreed to reduce the number of common shares that ALLTEL would exchange for its proposed acquisition of SLT (Sugar Land Telephone Company of Sugar Land, Texas) from 4.0 million to 3.7 million.
 ALLTEL originally announced plans to acquire Sugar Land in June. Sugar Land Telephone serves approximately 42,000 telephone customers, primarily in suburban Houston. It also has approximately 328,000 cellular "pops," including 2.34 percent ownership in the Houston, Galveston, Beaumont, Texas, Metropolitan Statistical Area (MSA) and 1 percent interest in the Little Rock, Ark., MSA, and has interests in four Texas Rural Service Area (RSA) markets. In addition, Sugar Land serves 6,300 cable television subscribers and owns one-third of Metropolitan Houston Paging Services, one of the largest paging networks in Texas serving nearly 70,000 customers.
 Pending receipt of necessary approvals, ALLTEL expects to complete the acquisition by the end of the fourth quarter of this year.
 ALLTEL Corporation (NYSE: AT) provides telephone service to more than 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- 10/27/92
 /CONTACT: Ron Payne, vice president-corporate communications, ALLTEL Corp., 501-661-8989/
 (AT) CO: ALLTEL Corporation ST: Arkansas IN: TLS SU: TNM


KK -- CL018 -- 5406 10/27/92 12:28 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:253
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