AT&T announced it is buying Centennial Communications, in a deal that is primarily about improving the giant's wireless coverage in the Midwest and the Deep South, and extending it to Puerto Rico and the U.S. Virgin Islands. However, Centennial also own about 596,700 access lines in Puerto Rico.
There is no mistaking the buy is all about wireless, but it will be interesting to see how AT&T leverages the wireline assets in a budding broadband market.
The cash deal is valued at $944 million, and was announced late Friday night, barely a day after AT&T announced its $275 million acquisition of its Wi-Fi hotspot partner Wayport.
- The New York Times has coverage
AT&T continued to lose landlines in the third quarter