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Federal Trade Commission approves Verizon/Alltel acquisition, making it official

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Federal Trade Commission approves Verizon/Alltel acquisition, making it official
The final regulatory hurdle was cleared in Verizon Wireless' planned acquisition of Alltel on Wednesday, making the buyout a reality and officially creating the largest carrier in the United States.  The Federal Communications Commission (FCC) and the Department of Justice had already approved the deal, and a review by the Federal Trade Commission's (FTC) antitrust regulators showed that they had no objections to the proposition. 

Verizon Wireless will be paying $5.9 billion for Alltel, and has agreed to assume $22.2 billion of the company's debt.  Surprisingly enough, even corporations like Verizon require loans as well - in a filing with the Securities and Exchange Commission (SEC), Verizon stated that it had secured commitments from eight financial organizations to provide $17 billion dollars for the purchase.

source: Yahoo Finance

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posted on 20 Oct 2010, 01:42

1. slimm (Posts: 2; Member since: 11 Dec 2008)


um i think you have m's where you should have b's (millions instead of billions).

posted on 11 Dec 2008, 15:01

2. secondcor517 (Posts: 94; Member since: 06 Oct 2008)


From VZW's website: "Under the terms of the agreement, Verizon Wireless will acquire the equity of Alltel for approximately $5.9 billion. Based on Alltel’s projected net debt at closing of $22.2 billion, the aggregate value of the transaction is $28.1 billion."

posted on 11 Dec 2008, 15:54

3. Mayday3420 (Posts: 61; Member since: 11 Dec 2008)


Lol, phonearena doesn't even know how to cut and paste or they just don't know the difference between 2 commas and 3 commas when it comes to money.

posted on 11 Dec 2008, 16:11

4. vzw fanman (Posts: 1971; Member since: 11 Dec 2008)


haha lol

posted on 11 Dec 2008, 16:52

5. vividshimmer (Posts: 4; Member since: 27 Aug 2008)


See you later, Chad!! Man, I hate Chad. But srsly, the Alltel aquisition will ceritainly help VZW's footprint in tons of rural markets where they need the most help.

posted on 11 Dec 2008, 18:30

7. Javaground (Posts: 3; Member since: 18 Nov 2008)


Here's a scary thought: What if the Verizon guy and Chad team up, and become the VZW duo?

posted on 11 Dec 2008, 17:37

6. vzwemp87 (Posts: 18; Member since: 09 Apr 2008)


yeah chad you're still a ding-dong

posted on 11 Dec 2008, 18:39

8. cartman (Posts: 45; Member since: 11 Dec 2008)


They are both annoying. "Can you hear me now?" - wtf

posted on 11 Dec 2008, 19:40

9. TheKing (Posts: 15; Member since: 11 Dec 2008)


i say you leave them out.. get a good looking woman, have her wear something sexy so i could hear her now!

posted on 11 Dec 2008, 21:27

14. (unregistered)


good call!

posted on 15 Dec 2008, 22:28

23. ICanAffordVZW (Posts: 123; Member since: 15 Dec 2008)


great idea...not

posted on 11 Dec 2008, 19:40

10. cartman (Posts: 45; Member since: 11 Dec 2008)


Does that mean sh**** devices for Alltel customers? For eg. even though certain clamshells are mediocre, Alltel's version of Touch Diamond and Touch Pro are better than Verizon's Touch Pro. So, yea, even though Alltel just released that Touch handhelds, I wonder what's gonna happen now.

posted on 12 Dec 2008, 18:46

18. renegade626 (Posts: 54; Member since: 12 Dec 2008)


Yes, And just because they like to annoy people like you. Have fun spending another couple hundo on a new phone when you have to switch carriers. *end sarcasm* Verizon, overal has the best selection of solid phones that appeal to any customer. eg. W755 for people who have bad reception in rural areas, ENV and Dare for people whole like full keyboards and touch screens, Omnia, blackberry, and touch for the pda lovers. Heck even the knack is a sweet phone for your 80 year old grandma. phones asside, EVDO just about anywhere you can travel is not much any other carrier can say (ATT lovers) =p

posted on 11 Dec 2008, 19:40

11. TheKing (Posts: 15; Member since: 11 Dec 2008)


now that sells!!

posted on 11 Dec 2008, 20:43

12. ddripp (Posts: 63; Member since: 11 Dec 2008)


the evil empire!!! i hate them

posted on 11 Dec 2008, 21:10

13. TheKing (Posts: 15; Member since: 11 Dec 2008)


are you trying to be luke skywalker and be a rebel? i mean the evil empire?? c'mon.. i mean, well... c'mon

posted on 12 Dec 2008, 15:39

15. Fanboys Suck (Posts: 609; Member since: 12 Dec 2008)


Rage Against the Machine!!!

posted on 13 Dec 2008, 14:15

21. Legion (Posts: 397; Member since: 12 Dec 2008)


*joke flys over TheKings head*

posted on 12 Dec 2008, 17:10

16. Jyakotu (Posts: 813; Member since: 12 Dec 2008)


Well, I hope Alltel customers are happy with being with Verizon. But, is there a chance that they'll stay with Verizon? After all, if they wanted to be with Verizon, I'm sure Alltel customers would've chosen it over Alltel.

posted on 12 Dec 2008, 18:01

17. TheKing (Posts: 15; Member since: 11 Dec 2008)


well its more in the favor of current vzw customers.. now they'll have way better reception in rural areas

posted on 12 Dec 2008, 18:59

19. renegade626 (Posts: 54; Member since: 12 Dec 2008)


I remember back when alltell aquired cellone a lot of people got roped into contracts and plans that they didnt want to.

posted on 12 Dec 2008, 19:34

20. Jyakotu (Posts: 813; Member since: 12 Dec 2008)


Oh, okay, now I get it. It all makes sense now.

posted on 14 Dec 2008, 16:24

22. bong_water (unregistered)


the buyout wasnt just to gain new customers but to take over service areas that they wouldnt be able to without taking this route. As a happy verizon customer i have no doubt in my mind that many customers will be leaving altel/verizon, but overall they will not lose most of there customers so its a gain for them regardless of how many people leave altel/verizon. your taking a competitor out of the picture. Its a good move on verizons part considering altel is one of the last companies besides small local companies that the fcc will allow buyouts of. for the verizon hates.. stick with your sprint or att.

posted on 15 Dec 2008, 22:31

24. ICanAffordVZW (Posts: 123; Member since: 15 Dec 2008)


Such anger towards non-VZW customers. Personally, as a VZW employee I would love to see AT&T and sprint customers give us a try.

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