Alltel sold for $27.5 billion

May 21 2007, 12:20am CDT | by Luigi Lugmayr

The WSJ reports that TPG Capital LLP and the private-equity arm of Goldman Sachs Group Inc. agreed to purchase wireless operator Alltel Corp. for about $27.5 billion.

This marks the largest private-equity deal in the wireless business.
Alltel is the 5th largest wireless operator in the United States with about 12 million subscribers. It will remain to be seen what the private equity investors can achieve with Alltel in terms of building more value.
This deal could lead to more private equity deals in the Wireless business.
More details on the WSJ (Subscription).

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.