Verizon Wireless Will Have to Divest Assets to Buy RCC

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posted Jun 10, 2008, 12:31 PM   by Eric M. Zeman
updated Jun 10, 2008, 4:03 PM

Updated: Clarified which company was being acquired.

The Department of Justice has said that in order to acquire Rural Cellular Corporation, Verizon Wireless must divest some of RCC's existing wireless assets. In particular, Verizon Wireless will have to sell off some of RCC's assets in Vermont, New York, and Washington states. The DOJ has filed a lawsuit that will force Verizon Wireless to comply with the divestiture before the acquisition can proceed. Verizon Wireless announced its intent to acquire Rural Cellular Corporation for $2.7 billion in July 2007.

more info at PC World / Yahoo News »

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