LITTLE ROCK, Ark.-Alltel Mobile Communications Inc. has signed definitive agreements to purchase interests in several Alabama and Florida cellular markets from St. Joe Communications Inc. for $27 million in cash.
Alltel will buy 12.02 percent interest in Alabama rural service areas 5B-2, 7 and 8B-1, giving Alltel 100 percent ownership in those markets.
Alltel also will acquire a 30 percent interest in the Tallahassee and Fort Walton Beach, Fla., metropolitan service areas and Florida RSAs 8B-1 and 10.
Alltel also will acquire 51 percent ownership of Florida RSA 9.
Transactions involving Tallahassee and Fort Walton Beach and the Florida RSAs are subject to the right of first refusal by other partners.
The purchases will increase Alltel’s cellular coverage from 7.9 million to 8.1 million pops.
Alltel Mobile is a wholly owned subsidiary of Little Rock, Ark.-based Alltel Corp., a telecommunications and information services company.
