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Alltel Negotiating Contract Extension Related to Sale of Austrian BusinessLITTLE ROCK, Ark. --(Business Wire)-- Feb. 28, 2006 -- Alltel (NYSE: AT) today announced that its subsidiary, Western Wireless International Austria Corp., and T-Mobile Austria GmbH are negotiating to extend their agreement related to the EUR 1.3 billion cash sale of tele.ring, Alltel's Austrian business, to T-Mobile. The agreement was signed on Aug. 10, 2005, and could be terminated by either party today if an extension is not reached. Alltel believes it will reach agreement on an extension with T-Mobile, allowing the transaction to close following completion of the European Commission's review of the transaction. In the event an extension is not reached, Alltel intends to explore its options with parties who have indicated an interest in purchasing tele.ring. In either case, Alltel expects to close the sale of tele.ring by mid-year 2006. Alltel is owner and operator of the nation's largest wireless network and has more than 10 million wireless customers. Alltel claims the protection of the safe-harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events and results. Actual future events and results may differ materially from those expressed in these forward-looking statements as a result of a number of important factors. Representative examples of these factors include (without limitation) adverse changes in economic conditions in the markets served by Alltel; the extent, timing, and overall effects of competition in the communications business; material changes in the communications industry generally that could adversely affect vendor relationships with equipment and network suppliers and customer relationships with wholesale customers; changes in communications technology; the risks associated with pending acquisitions and dispositions, including the pending acquisition of Midwest Wireless and the pending dispositions of the Austrian, Bolivian and Haitian operations and the wireline business; the risks associated with the integration of acquired businesses, including the integration of Western Wireless; the uncertainties related to any discussions or negotiations regarding the sale of any remaining international assets; adverse changes in the terms and conditions of the wireless roaming agreements of Alltel; the potential for adverse changes in the ratings given to Alltel's debt securities by nationally accredited ratings organizations; the availability and cost of financing in the corporate credit and debt markets necessary to consummate the disposition of the wireline business; the uncertainties related to Alltel's strategic investments; the effects of litigation; and the effects of federal and state legislation, rules, and regulations governing the communications industry. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. Alltel, NYSE: AT www.alltel.com |
