Atlantic Tele-Network (ATNI) Picks Up Interest After Yesterday's Acquisition of Verizon Wireless Assets
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Shares of Atlantic Tele-Network Inc. (Nasdaq: ATNI) are seeing significant upside action today following news yesterday that the company acquired certain wireless assets from Verizon Wireless for $200 million. Shares are up 29% today after rising 9% yesterday.
ATN will acquire wireless properties, including wireless spectrum licenses and network assets, serving over 800,000 subscribers primarily in rural areas across Georgia, North Carolina, South Carolina, Illinois, Ohio, and Idaho. Verizon Wireless is required to divest these properties as part of the regulatory approvals granted for its purchase of Alltel earlier this year.
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