Private Equity Firms Looking to Scoop Up Verizon Assets
Verizon Communications is in the process of divesting a number of wireless assets as part of its deal to acquire Alltel. According to Reuters' sources, private equity firms and wireless firms alike have bid on the assets. Blackstone Group made its own bid, and Carlyle Group and Kohlberg Kravis Roberts & Co. made a joint bid. AT&T has 'expressed interest' and U.S. Cellular also made a bid for Verizon's assets. The auction will take place over several months and include multiple rounds. Over 30 companies are participating.