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Alltel, T-Mobile to extend $1.6 billion telering sale.

Alltel Corp. has extended the deadline for a $1.6 billion deal to sell Telering to T-Mobile Austria.

The telecommunications company said it was seeking an extension of the deal, announced last summer. Telering, an Austrian wireless business, became part of Alltel when Alltel purchased its parent company, Western Wireless of Bellevue, Wash., in a $6.5 billion deal, early last year.

The extension moves the deadline for the deal to May 15. Alltel said the closing of the deal is subject to review by the European Commission and is expected to take place by mid-2006.

A successful merger would give T-Mobile about 35 percent of Austria's consumer wireless business. T-Mobile has the second-largest market share in the country among five competitors. Mobilcom is first with about a 42 percent market share.
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Author:Turner, Lance
Publication:Arkansas Business
Date:Mar 6, 2006
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