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Verizon Acquisition of Alltel Closes January 9
Company to become largest wireless carrier
by Karl Bode 11:31AM Sunday Jan 04 2009
According to Verizon filings with the SEC, their acquisition of Alltel will close on January 9. Verizon will pay $5.9 billion and acquire $22.2 billion in Alltel debt, but will be acquiring about 13 million customers -- creating the largest wireless phone company in the country, with 83 million customers (AT&T has 74.9 million, Sprint has 50.5 million, and T-Mobile has 32.1 million). Verizon has stated they will retain some call center positions after the acquisition, but many redundant positions at Alltel will be eliminated.

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