Verizon Wireless “in deep talks” to acquire Alltel for $27 billion
The Wall Street Journal and our sister website MobileBurn.com are reporting that Verizon Wireless is in talks to acquire Alltel for $27 billion, the fifth largest nationwide carrier and third largest CDMA provider. Those that keep abreast of the wireless industry will remember that Alltel was purchased last year by TGP Capital and GS Capital Partners. At the time of purchase, rumors swirled that Verizon would take Alltel over, however the company believed that Alltel’s value was driven up by speculation of the deal and decided to pass.
What remains to be seen is if the government approves the buyout, and if so, what must be divested for the two companies to merge. Should the deal go through, Verizon Wireless would gain 13 million customers to bring their total to 80 million, surpassing AT&T with 71.4 as of last quarter.
[via MobileBurn]
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