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Business & E-Business , Mobile

Verizon To Buy Alltel

Thursday, June 5, 2008
By bMighty.com Staff

Verizon Communications has agreed to acquire Alltel, pushing it ahead of AT&T Wireless as the nation's largest cell-phone provider.

The deal, valued at $28.1 million, is expected to close by the end of the year, creating a company with more than 80 million subscribers. Analysts say the merger is a good fit given the two companies both employ CDMA communication technology, plus Alltel -- bought only last fall by TPG -- has customers in regions not serviced by Verizon.

"This move will create an enhanced platform of network coverage, spectrum and customer care to better serve the growing needs of both Alltel and Verizon Wireless customers for reliable basic and advanced broadband wireless services," said Verizon Wireless chief Lowell McAdam in a statement.

Source(s): The New York Times




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