SAN ANTONIO (AP) -- AT&T Inc. said late Thursday it completed its acquisition of Dobson Communications Corp., a provider of wireless communications services under the Cellular One brand.
"AT&T's customers will enjoy deeper coverage in rural and suburban areas," Randall Stephenson, AT&T's chairman and chief executive, said in a statement. "Dobson's customers will have access to AT&T's full portfolio of innovative products and services."
The acquisition extends AT&T's coverage area in rural and suburban areas in 17 states.
Dobson shareholders will receive $13 per share in cash from AT&T as part of the deal.
AT&T will begin to rebrand Dobson immediately, with virtually all of AT&T products and services being made available to Dobson customers by Dec. 9.
AT&T expects the deal to reduce earnings between 3 cents and 4 cents per share during the first year, and then add to earnings beginning in the second year.
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