Centennial Communications to be acquired by AT&T

Centennial Communications to be acquired by AT&T

AT&T has announced that they are planning to acquire phone company Centennial Communications.

The deal is worth $944 million and it would be conducted through a cash transaction.

AT&T said that this acquisition would help them expand their offerings in Puerto Rico and other areas of USA.

Market analyst Michael Nelson spoke about this new deal: “I’m surprised to see a deal in this economic climate. But on the other hand, AT&T is using cash on hand and taking advantage of the significant decline in asset prices.”

AT&T spoke about the deal: “The transaction will enhance AT&T’s wireless coverage for customers in largely rural areas of the Midwest and Southeast United States and in Puerto Rico and the U.S. Virgin Islands.”