The USA's Verizon Wireless has completed the acquisition of a PCS license serving the Pittsburgh PA BTA [Basic Trading Area] from Devon Mobile Communications for US$10.5 million in cash. In a separate transaction, the company also acquired a PCS license and certain network assets serving the Lebanon, NH BTA from Devon Mobile. The purchase price of the Lebanon transaction is US$635,000 in cash, of which US$437,000 was for the PCS license.
The radio spectrum overlaps or lies adjacent to current Verizon Wireless operations. It will increase the company's capacity to meet the strong demand from its nearly 35 million customers, and expand its service footprint into new markets.
The Lebanon, NH BTA license serves markets with a total population [POPS] of 181,600 and will expand the company's wireless network in Grafton and Sullivan counties in New Hampshire and the southern portion of Windsor County in Vermont. The company said it expects to begin offering service to those communities in 2004.
In the Pittsburgh, PA BTA, the license overlaps Verizon Wireless operations in the city of Pittsburgh, plus Allegheny, Armstrong, Beaver, Butler, Fayette, Greene, Washington and Westmoreland counties, which have a total estimated population of 2.5 million."
Posted to the site on 9th September 2003
Posted to: www.cellular-news.com/story/9676.php