Verizon Wireless Acquisition Of Alltel Gets Green Light

Posted: Dec 11 2008, 1:00pm CST | by , Updated: Aug 11 2010, 12:12pm CDT, in News | Mobile Phones

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Verizon Wireless has wanted to acquire Alltel Wireless for a while now, but antitrust regulators had to approve the deal. The FTC has now given Verizon the go ahead to complete the purchase of Alltel. The purchase will create the country's largest wireless carrier.

According to Yahoo Finance, the FTC antitrust regulators voted for early termination of antitrust review citing no objections to the merger. Both the FCC and Justice Department had previously signed off on the deal.

To purchase Alltel, Verizon will be paying $5.9 billion and assuming a whopping $22.2 billion in Alltel debt. I wonder if the purchase means that Alltel will stop their commercials with the different service reps, I actually like those commercials.

Via Yahoo Finance

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