AT&T buys Dobson for $2.8B in cash |
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Published
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Fri, 29 Jun 2007 23:28
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SAN ANTONIO (AP) - AT&T Inc., the nation's largest wireless carrier, agreed Friday to acquire rural wireless provider Dobson Communications Corp. for $2.8 billion in cash.The deal adds about 1.7 million customers to AT&T's nearly 62 million customers at a time when some analysts have questioned how much larger carriers can grow in a U.S. wireless market that is saturated.Oklahoma City-based Dobson does business under the Cellular One brand in rural and suburban markets in 17 states.AT&T Chief Executive Randall Stephenson, who took over for long-serving Ed Whitacre Jr. earlier this month, has said AT&T will be a wireless-centered company going forward.The announcement of the Dobson acquisition came the same day that Apple Inc.'s iPhone went on sale. AT&T is the sole carrier for the hotly anticipated device.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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