AT&T to finish acquiring Alltel customers in 1Q

DALLAS -- AT&T Inc. said Friday it expects to complete early next year the acquisition of 1.5 million Alltel subscribers in 18 states that Verizon Wireless had to divest.

Verizon Wireless had to divest the licenses and subscribers to win regulatory approval for its purchase of Alltel this year.

AT&T and Verizon agreed in May that AT&T would acquire them in a deal that includes assets from Verizon Wireless and the former Rural Cellular Corp.

The Federal Communications Commission and Justice Department are still reviewing the case.

Separately, AT&T said it expects to complete its sale of former Centennial Communications Corp. assets to Verizon Wireless, which would get nearly 120,000 subscribers in Louisiana and Mississippi.

That swap too needs regulatory approval.

Dallas-based AT&T said it expects to close both transactions in the first quarter of next year.

Verizon Wireless is a joint venture of Verizon Communications Inc. and Vodafone Group PLC.

AT&T shares rose 25 cents to $28.01 on Friday.