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StumbleFirm rejects takeover offer from wireless company
Wednesday, Aug. 15, 2001 | 11:20 a.m.
NEW YORK -- Alltel Corp. executives declined to say today whether they would pursue a hostile takeover of CenturyTel Inc. after the communications provider on Tuesday rejected its $6.1 billion unsolicited offer.
Alltel said the deal would create the largest rural telecommunications company in the nation.
CenturyTel, based in Monroe, La., provides phone services in rural areas, suburbs and small towns scattered throughout the country.
Alltel is the sixth-largest U.S. wireless carrier with 6.3 million customers.
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