, Verizon Wireless has entered into an acquisition agreement with Alltel. The deal will cost Verizon $28.1 billion; approximately $5.9 billion for the carrier and $22.2 billion for settling its debt. The merger should be completed before the end of the year, subject to obtaining regulatory approvals. This will turn Verizon Wireless into the biggest cell phone carrier in the United States, replacing AT&T, currently at the number one position.
Alltel serves 13 million customers in 34 states, including 57 rural markets that VZW doesn’t. This will help Verizon expand its coverage in larger part of the States.
source: Verizon Wireless