Verizon/Alltel deal could complete this year

11 Jun 2008

Verizon Wireless says its planned acquisition of Alltel Corp has been on the cards for years and that the buy will not be a ‘game changer’ for Verizon. Referring to how Sprint’s fortunes have dipped after its acquisition of Nextel in 2005, Verizon Communications president and chief operating officer Dennis Strigl says Alltel represents a good fit for Verizon Wireless, Dow Jones reports. Strigl is hoping the purchase can be closed by the end of this year, pointing to the quick completion of AT&T’s recent buyout of Dobson as an example of how a large deal can be pushed through in a matter of months rather than years. The combined Verizon Wireless and Alltel would leapfrog AT&T to become the nation’s largest cellular carrier, with a total of more than 80.3 million customers at the end of March, ahead of AT&T which had 71.4 million at the same date.

United States, Alltel Corporation, Verizon Wireless