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ALLTEL TO PURCHASE FIRST CELLULAR OF SOUTHERN ILLINIOS
Mt. Vernon , IL – Alltel, owner and operator of the nation’s largest wireless network, has agreed to purchase First Cellular of Southern Illinois, a locally owned and operated wireless provider with corporate headquarters in Mt. Vernon, Illinois. The acquisition of First Cellular will add wireless properties covering a population of 485,000 across the lower 24 counties of Southern Illinois, which are adjacent to Alltel’s properties in western Kentucky.
The all-cash transaction is expected to close in second quarter 2006.
“This is a win for both First Cellular customers and employees,” said Terry Addington, President and CEO of First Cellular. “Our customers will continue to receive all of the benefits of our strong Southern Illinois wireless network, and in the near future they’ll experience the added benefit of Alltel’s National coverage footprint. Plus, both Alltel and First Cellular are dedicated to providing superior customer service, which is just the right environment for First Cellular customers and employees to continue to thrive,” Addington added.
Daniels & Associates , L.P., the Denver-based cable, telecommunications, media and technology mergers & acquisitions and corporate finance specialist, initiated the transaction and represented First Cellular in the transaction.
About First Cellular
Since 1993, First Cellular has provided premium wireless service to the people of Southern Illinois. Established by a partnership of local phone companies, First Cellular’s mission focuses on doing business with its neighbors and taking special pride in providing the best quality of service and technology available to its customers.# # #