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Updated from 5:23 p.m. EDT
Telecom giant AT&T (T Quote) agreed to buy rural wireless carrier Dobson Communications (DCEL Quote) for roughly $2.8 billion cash.
AT&T will pay $13 a share for Dobson, representing a 17% premium over the stock's closing price of $11.11 Friday.
Dobson, based in Oklahoma City, has roughly 1.7 million subscribers in 17 states. AT&T said the deal will help it expand its reach in rural and suburban markets. ...
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