Updating ATLANTIC TELE-NETWORK and SYMANTEC CORP.

Article Excerpt

ATLANTIC TELE-NETWORK $44.75 (Nasdaq symbol ATNI; SI Rating: Speculative) (340-777-8000; www.atni.com; Shares outstanding: 15.3 million; Market cap: $683.9 million; Dividend yield: 1.8%) has completed its purchase of more than 895,000 wireless accounts from Verizon Wireless for $200 million in cash. The subscribers are mostly in rural areas of Georgia, North Carolina, South Carolina, Illinois, Ohio and Idaho. The deal should close by the end of this year. Verizon Wireless had to sell these accounts for regulators to approve its purchase of Alltel in January 2009. Regulators also had to approve Atlantic’s purchase of the accounts; the company recently received approval from the U.S. Department of Justice and the Federal Communications Commission. These new accounts will bring Atlantic’s total number of wireless subscribers above one million, up from 200,000 today, and make it one of the largest wireless carriers in the U.S. Atlantic also owns an 80% stake in Guyana Telephone and Telegraph Company (GT&T), as well as wireless interests in the Caribbean and…