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Feds OK Merger of AT&T and Centennial

WASHINGTON (CN) - The Justice Department approved AT&T's purchase of Centennial Communications on the condition that AT&T sell Centennial's wireless services in eight areas of Mississippi and Louisiana, including Alexandria and Lafayette.

AT&T and Centennial agreed to the merger in November 2008. AT&T has 80 million wireless customers; Centennial had 1 million. Verizon will buy rights to at least five of the areas, according to industry reports. Centennial shareholders will get $8.50 per share when the deal goes through.

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