Are verizon wireless and alltel merging?
The deal would move Verizon ahead of AT&T to make it the largest wireless carrier in the United States. The combined entity would have over 80 million subscribers. According to the New York Times: “Under the terms of the deal, Verizon will acquire the equity of Alltel for $5.9 billion and assume $22.2 billion in debt. The companies hope to complete the transaction by the end of the year.” “Analysts say that Alltel, which has about 13 million subscribers, is a logical fit for Verizon. First, they share the same cellphone technology, called CDMA, and second, Alltel has customers in regions not serviced by Verizon. The person apprised of the talks said there would be layoffs, but they would be largely limited to marketing, finance and other staff functions.” There is the possibility that regulators could block the deal because it reduces competition and could harm consumers. AT&T and a combined Verizon/Alltel would control over 60 percent of the US cell phone market. The companies are mor
