Skip to main content

Alltel May Sell Wireline Cashcow

Take this cashcow, please -- Alltel is in negotiations with as many as three U.S. telecommunications carriers to sell its wireline business for about $10 billion, according to a recent report.

The Little Rock, Arkansas-based carrier is in late-stage negotiations with Citizens Communications of Stamford, Connecticut; CenturyTel of Monroe, Louisiana; and Valor Communications of Irving, Texas, according to the Financial Times.

Shares of Alltel were up $1.13 to $67.13 in recent trading. Alltel announced back in September that it had begun a �strategic repositioning� of its local telephone business.

The carrier, which has been contemplating a wireless-only focus, currently serves more than 3 million local telephone customers, primarily in rural areas of 15 states. The company also serves about 2 million long-distance customers.

The sale of its traditional wireless business would mean that Alltel will become entirely focused on its very profitable wireless operation, which serves 10 million customers and has made the carrier the fifth-largest wireless service provider in the United States.

Popular posts from this blog

Trillion-Dollar Smart Power Grid Transformation

The global energy landscape is undergoing a significant transformation. Renewable energy sources like solar and wind are rapidly gaining ground as we transition towards net-zero emissions. However, this transition hinges on a crucial but often overlooked factor: the modernization and expansion of our aging power grids across the globe. For decades the backbone of our electricity delivery system has been largely static. The influx of variable renewable energy sources like solar and wind presents a new challenge. Smart Power Grid Market Development Integrating these resources effectively requires a Smarter, more Responsive grid that can handle fluctuating power generation and efficiently distribute it across vast distances. This is where a new trillion-dollar energy market growth opportunity emerges. According to a recent worldwide market study by ABI Research, global investments in public grid digitalization and transmission network expansion must exceed $4 trillion by 2030 to meet our