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ALLTEL COMPLETES PURCHASE OF CONTEL'S ARKANSAS CELLULAR PROPERTIES

 LITTLE ROCK, Ark., Jan. 4 /PRNewswire/ -- ALLTEL Corporation (NYSE: AT) announced today that its ALLTEL Mobile Communications, Inc. subsidiary has completed the acquisition of all the outstanding stock of Contel Cellular of Arkansas, Inc. in exchange for ALLTEL Mobile's 10 percent minority interest in the Cleveland market and approximately $4 million in cash.
 Under terms of the agreement, ALLTEL gains operating control of the Fayetteville and Fort Smith, Ark., Metropolitan Statistical Area markets, as well as Arkansas Rural Service Areas (RSAs) No. 1 and No. 8 and Oklahoma RSA No. 4.
 ALLTEL Mobile's Arkansas operations currently own a total of 690,000 "pops" in the state. A "pop" represents the total market population times percent ownership. The acquisition of Contel's Arkansas operations would add another 496,000 "pops" for a total of 1.2 million "pops" in this market that has a total population of nearly 2 million.
 ALLTEL Mobile Communications, Inc., a wholly owned subsidiary of ALLTEL Corporation, operates or has investments in cellular telephone and paging systems in the south, midwest, and northeast regions of the United States, and is headquartered in Little Rock.
 ALLTEL Corporation (NYSE: AT) provides telephone service to 1.3 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- 1/4/93
 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/
 (AT)


CO: ALLTEL Corporation ST: Arkansas IN: TLS SU: TNM

KK -- CL005 -- 1200 01/04/93 09:29 EST
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Publication:PR Newswire
Date:Jan 4, 1993
Words:255
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