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Spinoff, Merger Forms Rural Telecom Provider

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LITTLE ROCK, Ark., July 19, 2006 -- The spinoff of wireless provider Alltel Corp.'s landline business and its merger with Valor Communications Group Inc. has formed Windstream Corp., a publicly traded company focused on serving rural telecommunications needs, the companies announced this week. As part of a merger agreement reached in December, Valor Communications -- now Windstream -- has issued approximately 403 million shares of common stock to Alltel shareholders, who will continue to own one share of the remaining wireless entity. Under terms of the deal, Alltel shareholders are entitled to receive 1.03 shares of Valor...Read full article

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    Companies
    Published: July 2006
    Glossary
    broadband
    Indicating a capability to deal with a relatively wide spectral bandwidth.
    AlltelbroadbandCommunicationsmergersNews & FeaturesspinoffstocktelecommunicationsValor CommunicationsWindstreamwireless

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