Featured Articles

Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia adjusts GTX 980 and GTX 970 pricing

Nvidia adjusts GTX 980 and GTX 970 pricing

It appears that Nvidia has been feeling the pulse of the market and took some note from comments regarding the original…

More...
iPhone 6 and 6 Plus reviews are up and they are good

iPhone 6 and 6 Plus reviews are up and they are good

Apple is dancing the same dance year after year. It releases the iPhone and two days before they start shipping it…

More...
Amazon announces three new tablets

Amazon announces three new tablets

Amazon has just released three new tablets starting with the $99 priced 6-inch Kindle Fire HD6. This is a 6-inch tablet…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 05 June 2008 07:40

Verizon to buy Alltel for $27 billion

Written by David Stellmack

Image

Talks said to be ongoing


Verizon Wireless
is said to be close to closing a deal with Alltel Corporation, a rural U.S. mobile service provider, for approximately $27 billion.  If the deal closes it will put Verizon ahead of AT&T Inc. as the top U.S. wireless service provider. Alltel reported that it had more than 13 million customers at the end of the first quarter, and combined with Verizon would have over 80 million customers. AT&T reported that it had about 71 million subscribers at the end of the first quarter.

As part of deal with Alltel, Verizon would assume nearly $23 billion of Alltel debt, which debt occurred as a result of a private leveraged buyout by TPG Capital and GS Capital Partners of Goldman Sachs just seven months ago. This proposal by Verizon has surprised many analysts, but several indicated that the tightening of capital markets likely is the motivation behind the deal to sell to Verizon.

Verizon Wireless and Alltel use the same CDMA wireless network technology and Verizon Wireless has roaming agreements allowing its customers to use Alltel's network in areas where Verizon does not have coverage themselves.

The U.S. FCC and other antitrust authorities and telecommunications regulators will review the deal before it is approved and may require Verizon to sell off airwaves in some markets before it gives an approval.

TPG, Goldman, Alltel and Verizon all declined comment.

Last modified on Thursday, 05 June 2008 10:40

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments