Atlantic Tele-Network in Sale of Regional Retail Wireless Business to AT&T for $780 Million

Cleary Gottlieb is representing Atlantic Tele-Network in the sale of its domestic retail wireless business operating under the Alltel name in Georgia, North Carolina, South Carolina, Illinois, Ohio and Idaho to AT&T for $780 million in cash. The transaction was announced on January 22 and is subject to a number of customary conditions, including HSR and FCC clearance. It is expected to close in the second half of 2013.

ATN is a telecommunications service provider to rural, niche and other under-served markets. The regional retail wireless business was acquired from Verizon in 2010, as part of divestitures Verizon was required by regulators to make in connection with its acquisition of Alltel.