RSSVerizon Buys UNICEL for $2.67 Billion
By the Betanews Staff | Published July 30, 2007, 12:01 PM
Verizon Wireless has agreed to acquire Rural Cellular (UNICEL) for about $2.67 billion in cash, the two companies said on Monday. Rural serves about 716,000 customers across 15 states in New England, the Plains states, the Southeast, and the Pacific Northwest. Verizon service will cover an additional 4.7 million potential customers as a result of the transaction, and expand its coverage in rural locations, it said.
The deal is expected to close early next year. Rural uses both GSM and CDMA technologies. Those customers using GSM would be converted to CDMA, however Verizon plans to keep Rural's GSM network active in order to resell it for other GSM carriers to roam on. "Today, as the wireless industry continues to evolve, our Board of Directors has concluded that it is in the company's best interest to enter into a sale transaction with Verizon Wireless," Rural CEO president and CEO Richard Ekstrand said of the sale.
Unicel covers our area, and I can't say that I'm unhappy to see them go. Their coverage SUCKS i.e. dropped calls, limited coverage area, etc. Hope the acquisition by Verizon cleans up the act in our area!
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Thats all in good, however Verizon will become a monopoly in Vermont and that is not right.
Also there will be thousands of employees left jobless while the fatcats enjoy thier millions of dollars. What happend to small local business? If this crap keeps going on, companies like verizon and wal mart will own the world and every service and there will be no more opportunity or choice in this world for anyone, we will be told who to use, what to do and when to do it. The thing you have to realize is that where you are you have the freedom to choose your cellular carrier, if this acquisition goes through Vermont residents will have no choice, and the kicker of it all is that Verizon dosnt plan on using the GSM network that has blown thier own coverage out of the water that we have built up in the past 2.5 They will force all of our existing customers to buy new eqquippment on outdated technology and the gsm newtwork will be used only for roaming revanue. So our customers will be forced to spend money on a new phone that has more deadspots than on our GSM Network..
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Well we live near the Unicel Headquaters. It will be sad that RCC will go into history but it is also good that Verizon will be extending coverage to the Lakes Area in MN. Right now were stuck with Sprint since Verizon previously didnt offer coverage and most of my friends and family who are on Verizon (and Unicel) and I am not a big fan of Sprint. We have the Pay as you go phones and when they said that there is no roaming charges, that means that your phone WILL NOT WORK OUTSIDE YOUR COVERAGE! Which means that your phone is useless outside your coverage area and if there is a emergency, your screwed. I am planning to switch to Alltell (We have found out that Alltell has coverage in our area but do not market there phones the way Sprint/Viginmobile does) and use there Prepaid Phones since they have alot better coverage. Nuff Said! :D
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well, let me tell you. I am an agent for Unicel, I have two locations a family, a house, two student loans, and two car payments.
Come close of this transaction I will more than likely be forced to shut down my busniess and be rendered jobless...the rich get richer and the ones below them get dumpped on...and I am sure you know the dump I am reffering to..thanks Unicel, my years of dedication and putting my neck out on the line for your company I am susre will be overlooked and you will buy another vacation home.
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huh... 2.67 Billion dollars for 4.7 customers...
Wow... doing the math that's.... aprox. $568,085,106 per customer. I don't think I'd want to see the .7th customer. Must be horribly disfigured.
Ok, I'm done having fun with that post now.
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sad, for so many reasons....this is just sad
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those would be mighty expensive customers.. corrected to 4.7 MILLION. :)
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Ok, on a more serious note, it sounds like a pretty good deal for Verizon.
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This is a good thing for Verizon and their customers.
Bad for the Unicel customers, who, unless Verizon is generous, will lose their unlimited calling plans. ($35/mo for NH residents for unlimited usage in ME, NH, VT, and MA.) Their monthly rates will go up, too.
That is, unless VZW decides to play nice...
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"Verizon service will cover an additional 4.7 potential customers as a result of the transaction, and expand its coverage in rural locations, it said."
$2.67 billion for 4.7 customers? What parts of the body are missing in that .3?
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