Regional operators shore up holdings
Regional operators are shoring up their holdings. Alltel reported that it purchased wireless partnerships from Palmetto MobileNet. The purchases cover about 2 million people in the Carolinas and totaled about $455 million. Alltel already managed and owned 50 percent of each of the 10 partnerships and has purchased the remaining interests from Palmetto. Following AT T's announcement to acquire BellSouth, there has been speculation that Verizon would make an offer for Alltel, which has mimicked Verizon's technology decisions and service offerings. Earlier Leap Wireless International announced it signed an agreement to buy 13 spectrum licenses from bankrupt Urban Comm-North Carolina for $31.8 million in cash.
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