Alltel Buyout Edges Closer

Alltel may have seen a second quarter decrease of 54% in profits, but that number is not slowing the cellular giants
buy cost, as the company is expected to sell at $24.7 billion to TPG Capital and GS Capital Partners

{mosgoogle left}  While Altel saw profits shrink due to the sell off of their landline service, the provider actually prospered on the wireless front adding 181,000 new postpaid customers bringing their total amount of active lines to 12.2 million.

The company is also prospering from a churn rate of 1.67 percent, down from one year ago when the rate was at 1.9 percent. While users are using more on the Alltel network, spending an average of approximently $54 per line. The increase in per line usage was up by 3 percent from a year prior, largely based on the wireless trend of higher data usage as seen by providers such as AT&T and Sprint as well.