LITTLE ROCK, Ark.-Western Wireless L.L.C. will buy back nearly $600 million in stock following its acquisition by Alltel Corp., the company said Friday.
The carrier said it will buy back 97 percent of its 9.25-percent senior notes on the market from shareholders who tendered notes by the close of business yesterday. Shareholders who missed the offer can still participate in the buyback program through Aug. 26, but must pay a consent fee of $45 per $1,000 principal amount.
Alltel closed its $6.5 billion acquisition of Western Wireless Aug. 1, creating a regional phone company with more than 10 million customers in 34 states.
