AT&T works to gain regulators' OK for acquisition of Centennial

By Cristal Cody

Tupelo, Miss., July 8 - AT&T, Inc. told Prospect News on Wednesday that the company pushed back the closing date of its $944 million acquisition of Centennial Communications Corp. as it waits for federal regulatory clearances.

The deal must clear competition reviews by the Department of Justice and the Federal Communications Commission.

AT&T now expects the acquisition to close in the third quarter.

"We originally believed we would get the regulatory approvals and close in the second quarter," AT&T spokesman McCall Butler said Wednesday. "We've satisfied all requests for information from the FCC and DOJ, and we continue to work to secure approvals from them for the transaction."

Wall, N.J.-based Centennial shareholders approved the $8.50-a-share cash offer in February.

The merger will expand Dallas-based AT&T's wireless services in the Midwest, Southeast, Puerto Rico and the U.S. Virgin Islands.

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