Alltel acquisition approved

29 Oct 2007

The Federal Communications Commission (FCC) has approved the buyout of US cellular operator Alltel by two private equity groups, TPG Capital and GS Capital Partners (GSCP). The USD71.50 per share cash deal is expected to close next month. Alltel operates the most extensive wireless network in the US, though its rural focus means the company is well behind the country’s major players in terms of its customer base, with around 12.4 million subscribers and a 5% market share at the end of September.

United States, Alltel Corporation