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AT&T, Verizon Wireless Agree to Asset Swap

Reuters
Tuesday, 4 Dec 2007 | 9:30 AM ET

AT&T said Tuesday it agreed to a swap of wireless assets with carrierVerizon Wireless in a deal that would meet divestiture requirements for AT&T's recent purchase of Dobson Communications.

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Verizon Wireless is due to buy Rural Cellular. On completion of that deal, AT&T would acquire some former Rural Cellular properties, including licenses, network assets and subscribers.

Verizon Wireless would in turn buy from AT&T some properties belonging to Dobson. The swap, which is expected to close by mid-2008, would extend AT&T services in states such as New York and Vermont.

Verizon Wireless is a venture of Verizon Communications and Vodafone Group.

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