Verizon Wireless Agrees to Divestitures to Acquire Alltel

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posted Jul 23, 2008, 3:39 PM   by Eric M. Zeman
updated Jul 23, 2008, 3:47 PM

Updated: typo

In order to meet Department of Justice approval, Verizon Wireless agreed to divest some assets with the hope that the concessions will allow its intended purchase of rural cellular provider Alltel to move forward. Verizon agreed to sell off 85 markets across 18 states, mostly in rural areas where its services overlap with Alltel's. Verizon also agreed to certain roaming conditions. These two concessions do not, however, mean that the sale has been approved. Verizon Wireless may still have to take further action to meet regulatory requirements.

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