Printer Friendly

ALLTEL TO ACQUIRE SUGAR LAND TELEPHONE

 ALLTEL TO ACQUIRE SUGAR LAND TELEPHONE
 LITTLE ROCK, Ark., June 8 /PRNewswire/ -- ALLTEL Corporation


(NYSE: AT) announced today that it has reached an agreement by which it will acquire SLT Communications, Inc. (Sugar Land Telephone Company) of Sugar Land, Texas in exchange for four million ALLTEL common shares.
 Sugar Land 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.
 ALLTEL currently serves approximately 38,000 telephone customers in Texas and holds 63 percent interest in the Little Rock cellular MSA and 23.6 percent interest in the Waco, Killeen Texas MSA, as well as additional interests in Texas RSAs.
 ALLTEL President and Chief Executive Officer Joe Ford said, "We are proud to add this fine company to ALLTEL's operations. While we expect the acquisition to be slightly dilutive, Sugar Land is one of the faster growing telephone operations.
 Pending execution of a definitive agreement and receipt of necessary approvals, ALLTEL expects to complete the acquisition in the fourth quarter of this year. Other terms and conditions 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- 6/8/92
 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/
 (AT) CO: ALLTEL Corporation ST: Arkansas IN: UTI SU: TNM


CG -- CL013 -- 8015 06/08/92 14:56 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 8, 1992
Words:312
Previous Article:TECHNOLOGY MARKETING INC. ANNOUNCES THE ACQUISITION OF SSD MANAGEMENT INC.
Next Article:EIGHT INTERNATIONAL COMPANIES ENDORSE SILICON GRAPHICS' CORPORATE STRATEGY BY PARTICIPATING IN COMMON STOCK OFFERING
Topics:


Related Articles
An emerging giant; $1.6-billion Alltel and Systematics are positioned for corporate greatness: can they pull it off?
ALLTEL ACQUIRES SAVANNAH CELLULAR INTEREST
ALLTEL'S SYSTEMATICS ACQUIRES COMPUTER POWER
ALLTEL COMPLETES COMPUTER POWER ACQUISITION
ALLTEL TO SELL TELEPHONE PROPERTIES TO CITIZENS UTILITIES
ALLTEL TO PURCHASE CELLULAR PROPERTIES FROM ST. JOE COMMUNICATIONS
ALLTEL to Purchase Georgia Telephone Corporation
ALLTEL Completes Purchase of Georgia Telephone Corporation
ALLTEL, 360 Degrees Merger Agreement Highlights Busy Month
Alltel's Takeover of Nebraska Phone Company Would Harm Consumers and Employees, CWA Tells FCC.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters