Verizon Wireless to sign $28.1 billion dollar deal for Alltel

Verizon and Alltel have released a statement Thursday that Verizon would buy the equity of Alltel as well assume its debt.

Verizon Wireless confirm that talks between them and Alltel were talking place.
Alltel is valued at some $5.9 billion,while carrying about $22.2 billion dollars in debt. If the deal is approved, it’s expected to close by the end of the year. Making Verizon Wirless the largest carrier with an estimated combined total of some 80 million plus customers. Alltel says the move will create an enhanced platform of network coverage and customer care to better serve the growing needs of both Alltel and Verizon Wireless
Guess this move will put old Chad out of a job.

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