AT&T to buy Dobson for $2.8B

AT&T Inc. said it will acquire regional carrier Dobson Communications Corp. for about $2.8 billion.
Dobson serves more than 60 rural and suburban markets in 17 states in the Midwest and South under the Cellular One brand. The carrier counts 1.7 million customers and covers almost 13 million potential customers. Recent news reports had indicated that Dobson was exploring the possibility of a sale.
AT&T Mobility President and CEO Stan Sigman called the acquisition “an excellent fit” and said Dobson’s GSM/EDGE technology and coverage dovetails with that of AT&T.
In addition to expanding AT&T Mobility’s coverage in rural areas, former Dobson customers will have access to AT&T Mobility products and services, including the new Apple Inc. iPhone, the companies said.
AT&T said it hoped to obtain the necessary approvals for the transaction to close by the end of this year. Dobson’s stock was up almost 12% in midday trading on Wall Street.