Verizon looking to acquire Alltel for $27 Billion

Verizon looking to acquire Alltel for $27 Billion
Verizon Wireless is in talks to acquire Alltel for about $27 billion in debt and cash. While the details are still being worked out, one person said that the $27 billion valuation could be comprised of mostly debt and a smaller amount of cash. Alltel had $23.35 billion in long-term debt on its balance sheet at the end of the first quarter. Verizon currently has about 67 million customers, combined with Alltel's 13 million, would produce a total of 80 million customers for Verizon, passing-up AT&T's 71 million to become the largest wireless provider in the US.

source: Reuters

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57 Comments

1. the Godfather unregistered

this would be huge ...Verizon passing ATT and never looking back.

2. apb1994

Posts: 6; Member since: May 27, 2008

Oh, thats my carrier, thats so cool

3. unregistered

no way the govt lets this go through

4. unregistered

The gov allowed AT&T to purcahse Cingular, and allows Airline comps to merge.

5. unregistered

to #3- Why wouldn't they? Of course they will let them.

14. unregistered

Sprint purchased Nextel, ATT purchase Cingular, why would VZW be able to purchase Alltell. Dont post about things you dont understand...

16. unregistered

why do people say it won't go through, its a great decision! and a bunch of other buyouts have happened before between carriers, why would Verizon and Alltel be any different...people get so offended to hear about Alltel getting aquired I don't get it

34. unregistered

that comment didn't make any sense...

37. unregistered

Actually, SBC purchased AT&T. They decided to drop the Cingular name and go with AT&T. But I agree a deal like this would still go through regulatory hurdles with ease.

6. Ketchup unregistered

well GSM is a better technology anyway so i dont care the ability of me to take my sim out and put it in a new phone is the best idea since the cell phone in my opinion. with verizion you have to call them and there are not any unlocked cdma phones out there you can buy and just start using

8. unregistered

This babbling makes no sense. Please clarify.

13. unregistered

GSM = Better Technology, lol GSM=Better if you lose your phone or want to go overseas, but not better technology

17. DamonO unregistered

With Verizon all you have to do is log into your Verizon account and change the ESN there. Takes maybe 5 minutes. Not as quick as switching a SIM but not difficult at all.

18. unregistered

hmm, better technology? not according to JD Powerhouse. Not just JD-P but everything I've ever read on GSM and CDMA has said that CDMA is better. And the SIM card thing is just something that GSM adopted, I'm sure CDMA could use it too if they wanted. I agree that GSM is better when roaming to other countries but unless you have a good job or alot of money these days I don't think I'll be making alot of frequent trips to other countries, once you leave the US its hell to get back in!

38. unregistered

Just because you can switch your sim card from phone to phone does not make GSM better than CDMA. CDMA is more secure, has more capacity, and is just all around a better technology. Besides you lose your phone with Verizon you log on put the new serial # in and you're good to go. Lose your GSM phone and you gotta go get another sim card first to put in your second phone. So tell me, which seems quicker to you?

52. unregistered

why would it be better if you loose your phone you have just lost your sim card too atleast "VZDUB" has back up asistance so when you loose it you can still get your contacts and veizon had a hand full of phones that will convert when u go over seas ... and more comming im sure :-p

7. unregistered

AWSOME! If this goes through, AT&T will have little to nothing on VZW. Oh, and if this goes through, does anyone think VZW will get the Glimmer?

9. jamesvillan unregistered

alltel is not gsm!!!! its cdma!!! read ur facts! i knw this cause im a verizon rep and i had alltel cust at least the ones that knw. they can buy our phones and put it on there account with alltell why u ask? cause they happen to have the same CDMA network like VERIZON does! this purches will make verizon the biggest and the most reliable network in the us! just hope the open application for phones and the use of GSM/CDMA phones comes fast that way at&sucks will have no hope and just go bankrup!

10. unregistered

getting our hopes up a little aren't we...

23. unregistered

lol, jamesvillan. i dont believe anyone said that Alltel was GSM. I am also a Verizon rep and am excited about this and the RCC buyout which adds another 700,000 customers.

53. unregistered

well uh actulay "we" verizon bought their comp. of corst but more important their towers and towers can convert gsm lots of towers are multi capable it just means ATT pays us for our towers

55. unregistered

I am actually a Alltel Rep and we are really excited about the merger, its gonna be the best thing period bc in the end we will buy out everyone and be one cell company anyway. (prob) lol. but seriously think about Alltel Is the biggest REGIONAL carrier, & Verizon is the biggest in Cities in the US YEs In the Us ALLTEL AND VERIZON are bigger anyway! Att are number one COUNTING accross the seas, ANYWAY when u have the largest carrier in the city and ADD the largest Regional carrier what do u think? OUR SERVICE AS VERIZON will be the best service seriously NO spots uncovered, as far as the evdo rev's and 3g Look atr the Att coverage for 3G............................. THe have nothing on us or verizon plus we have MANY MANY MANY upgrades coming out, actually to let this leak, when we merge we are coming out with a tech thats 2 steps above anyone else as far as speed up&download, while everyone else takes it step by step, we will.................... be passed the finish line eating dinner

57. unregistered

oops im meant alltel as a large rural not regional my bad

11. some one unregistered

what is better CDMA or GSM? Ive heard AT&Ts HSDPA will be faster than verizons EVDO Rev A...can anyone clearify?

12. vzw rep unregistered

If anything it will be about the same speed, their first issue will be how good is the coverage, VZW's REVA is already across 80-85% of the US

15. unregistered

HSDPA can supposedly get up to 14.1ish MBps, while EVDO Rev.A is like 3.1. I think by the time AT&T gets their 3G network close to national coverage, VZW will be rolling out 4g anyways.

24. unregistered

Verizon still has Rev B and Rev C to launch. Im wondering if they will classify Rev C as LTE...

56. arep unregistered

yea actualy when alltel and verizon merge they are already working on a 2 step skip ahead so b4 they go to the next step their just gonna skip 2 and be the best and they should because we will be the best all around spped, satisfaction, cust base, and largest!

19. AaronB unregistered

Anyone see us turning into Canada within the next few years? Everyone merges, monopolistic competition happens, and prices soar. We'll be paying $30/month for 2MB of BlackBerry data :/

20. unregistered

Does this mean that verizon will get altells phones?

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