Mergers and Acquisitions

  • Alltel Group and Orion Propose Asset Swap

    Gwent, Yorkshire and Edinburgh ? Alltel Group Limited (Alltel), which is based in Gwent, Yorkshire, and Edinburgh-based Orion Communications, Inc. (Orion) have reached an agreement in principle under which Alltel will swap its foundering PayTel unit and cash for Orion's wireless unit. Both companies agree that the proposed swap is a safer way to transform PayTel into a true wire line model from its roots as a phone box company than Alltel placing it into proceedings under Section 2 of the Bankruptcy and Insolvency Act.

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