Atlantic Tele-Network Soars on ‘Transformational’ Deal with Verizon

Now here is a deal the Street really likes.

Tuesday, Atlantic Tele-Network (ATNI) a company which operates a hodgepodge of telecom operations in the U.S. and the Caribbean, announced a deal to pay $200 million in cash to acquire more than 800,000 wireless subscribers from Verizon Wireless (VZ, VOD) in mostly rural areas of Georgia, North Carolina, South Carolina, Illinois, Ohio and Idaho. Verizon Wireless was required to divest those subs as part of the regulatory approval of Verizon’s acquisitions of Alltel.