Alaska Communications (NASDAQ:ALSK) and GCI (NASDAQ:GNCMA) have completed the previously announced transaction for Alaska Communications to sell its wireless subscriber base and its one-third interest in the Alaska Wireless Network to GCI for $300 million.
Under the terms of the agreement, GCI assumed Alaska Communications' wireless subscribers. The two companies have agreed upon a transition plan intended to ensure a seamless continuation of service as wireless customers are transitioned to GCI.
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