AT&T announces full acquisition of Edge Wireless
By Will Park on Wednesday, December 5th, 2007 at 3:16 PM PST In AT&T, Announcements, Financial/Corporate News, Partnerships
No, this has nothing to do with AT&T (NYSE: T)’s EDGE data network. It seems that AT&T has decided to pull the trigger and fully take over Pacific Northwest wireless carrier Edge Wireless. Now, AT&T already had a minority (35.7%) stake in the small-time network operator, but that just wasn’t enough for the nation’s largest carrier.
Continuing the No. 1 US carrier’s spending spree (they just plunked down $2.8 billion to buy Dobson Communications), AT&T presumably wanted access to Edge Wireless’s 172,00-strong subscriber base by folding Edge’s operations under the Big Blue umbrella. The move, if approved by the Feds, will give AT&T a wider GSM network to push its flagship handset – the iPhone.
AT&T must have some massive cash on hand. They’re going through greenbacks like there’s no tomorrow – and the 700Mhz frequency auction is still on the horizon. We’re sure AT&T’s already considered their maximum bid and set aside a healthy chunk of change for the auction, but it’s still amazing to see just how much money the carrier has been spending recently.
[Via: Electronista]
Im sad to hear that Edge Wireless is going away. I have been a cusotmer for 5 years. They are really nice people. I still think it will be cool to get the Iphone.
Their is no part of me that is mad or sad about AT&T buying Edge Wireless! Edge does not have a good choice of phones at all. I can’t wait.
Finnaly!!