LITTLE ROCK, Ark.—Alltel Corp. said it has agreed to buy cellular operator First Cellular of Southern Illinois, which covers a population of 485,000. First Cellular covers several major transportation conduits that connect St. Louis, Chicago, Indianapolis and Evansville, Ind., and Louisville, Ky.
The terms of the deal were not disclosed, although Alltel noted that it was an all-cash transaction. First Cellular has operations in 24 Illinois counties and is based in Mount Vernon, Ill.
Alltel did not say how many customers it will gain through the deal.
