This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Atlantic Tele-Network, Inc. Bermuda Operations To Merge With M3 Wireless

Stocks in this article: ATNI

Atlantic Tele-Network, Inc. (NASDAQ: ATNI) announced today the completion of the merger of its Bermuda wireless subsidiary CellularOne with M3 Wireless, Ltd., a leading wireless provider in Bermuda. M3 is a subsidiary of KeyTech Limited, a Bermuda-based communications company.

“We are creating a stronger and more capable single wireless company out of two very complementary businesses,” said Kurt Eve, CEO of ATN’s Bermuda operations. “We are confident that, as we grow our service and products, more and more customers will see the great value of the new CellularOne. We are going to use our combined strengths in the marketplace to deliver new products, greater coverage, better service and more options for our customers.”

“In looking at each other and the marketplace, we recognized that we could be in a more competitive position and deliver greater value for our customers as a combined business,” commented Sheila Lines, CEO of M3 Wireless. “Together, we intend to leverage our respective competitive strengths to deliver more reliable island-wide coverage and a broader range of wireless plans and devices to our customers.”

The new company will keep the existing CellularOne management team and operate under the CellularOne brand. The company will have about half of the Bermuda wireless market, including both post- and pre-paid. As the two companies execute the merger, customers will see the transition to the single CellularOne brand. There will be no service disruptions and the new company will honor existing agreements, service plans and pricing. The new company will ensure customers of both companies receive the high level of service they have come to expect.

Paul Bowersock, ATN’s President of International Operations commented, “This merger will increase our competitive position in Bermuda, and lead to lower market risk for ATN. At the same time, it will allow for more efficient use of capital and ensure funding for investment in new technologies and other products and services in a market we already know. The new CellularOne will be focused on investing in the best service and products for our customers in Bermuda.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs