p>ATLANTIC TELE-NETWORK $43.57 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340- 777-8000; www.atni.com; Shares outstanding: 15.6 million; Market cap: $676.7 million; Yield: 2.3%) has agreed to sell its Alltel wireless business to AT&T (symbol T on New York) for cash of $780 million. In April 2010, Atlantic bought Alltel from Verizon Wireless for $223 million.
AT&T is paying a big premium for Alltel (the sale price amounts to a profit of 250% for Atlantic in under three years) because it not only includes 585,000 subscribers but also considerable wireless spectrum. AT&T needs this spectrum to keep expanding its 4G long-term evolution (LTE) wireless networks. LTE networks are up to five times faster than those in use today, but they use up much more spectrum.
After the sale, Atlantic Tele-Network will still have telecom operations in the U.S. southwest, New England, New York State, Guyana, Bermuda and portions of the Caribbean islands.
The company will also have a very large cash holding, which it could use to make acquisitions or expand its remaining operations. It could also raise its dividend or pay special dividends. The stock currently yields 2.3%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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