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Dec 09, 2005 Alltel Spins Off Landline Business and Merges It with VALOR, Creates New Rural-Focused Landline Company

Transaction is Tax Free for Alltel, VALOR and Respective Shareholders Alltel Executives Named to Lead the Landline Business Landline Business Will Have Headquarters in Central Arkansas Alltel Becomes a Pure Wireless Company Alltel Plans $3 Billion Share-Repurchase Program After Spin-off Collective Dividend to Increase 1 Cent.


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