Alltel Corp. said it will sell four markets in rural Southern Minnesota to Rural Cellular Corp.
Terms of the deal were not released.
Alltel had to divest the markets as part of its purchase of Midwest Wireless. The transaction includes licenses, retail stores, employees, about 38,000 postpaid customers and CDMA network assets.
The licenses cover Minnesota rural service areas 7, 8, 9 and 10. Rural Cellular said the markets are adjacent to its northern Minnesota service area.
Alltel’s stock was up slightly after the deal to $58.32 per share.
Alltel offloads four Minnesota markets to Rural Cellular
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