Verizon deal expands reach in New Mexico – AP
BASKING RIDGE, N.J. — Verizon Wireless announced late Friday that it plans to buy the assets of a service provider in rural New Mexico that will expand its reach in the area.
Verizon, based in Basking Ridge, N.J., is buying the wireless operating asset of E.N.M.R Telephone Cooperative, which operates under the name Plateau Wireless. The company didn’t disclose the financial terms of the deal.
Verizon said the deal will expand its footprint in southeastern New Mexico to the counties of Eddy, Chaves and Lea and a portion of Lincoln county. So it expands the carrier’s access to a rural population of 259,000 people across approximately 26,100 square miles, including the cities of Roswell, Carlsbad, Artesia and Hobbs, N.M.
Verizon expects the deal to close mid-year.
Verizon shares rose 41 cents Friday to close at $38.46. They added another 2 cents after hours.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Article source: http://www.msnbc.msn.com/id/46435570
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