Tuesday completed its $1.08 billion purchase of Midwest Wireless Holdings of Mankato, Minn.
Alltel expects to gain about 450,000 wireless customers in southern Minnesota, northern and eastern Iowa, and western Wisconsin. Alltel is purchasing Midwest Wireless' licenses, customers and network assets, including its 1.9 MHz personal communications services (PCS) spectrum.
Little Rock, Ark.-based Alltel has agreed to sell four rural markets in southern Minnesota that Alltel acquired from Western Wireless in 2005. The divestiture is part of an agreement with the Department of Justice.
Shares of Alltel were up 71 cents, or 1.3%, at $56.02 in recent trading Tuesday.