Verizon to confirm Alltel acquisition

09 Jun 2008

Verizon Wireless becomes the biggest mobile phone provider in the US. The company has entered into an agreement to acquire Alltel Corporation for $5.9 billion plus Alltel's projected net debt at closing, putting the total value of the transaction at $28.1 billion.

The merger is supposed to be finished within this year and would create an enhanced platform of network coverage, spectrum and customer care for both Alltel and Verizon Wireless customers.