Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Verizon Wireless to buy Alltel for US$ 28.1 billion
Posted on 6-Jun-2008 10:26. | Tags Filed under: News.



Verizon Wireless has entered into an agreement with Alltel Corporation and Atlantis Holdings LLC to acquire Alltel Corporation in a cash merger.

Verizon Wireless is a joint venture of Verizon Communications and Vodafone.

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

The parties are targeting completion of the merger by the end of the year, subject to obtaining regulatory approvals.

Once this transaction closes, customers of both companies will have access to an expanded range of products and services, including a premier lineup of basic and advanced devices and an expanded IN Network calling community. Alltel customers also will benefit from advanced services including over-the-air downloadable music from a three-million-song library, and a network that covers the U.S.

“This move will create an enhanced platform of network coverage, spectrum and customer care to better serve the growing needs of both Alltel and Verizon Wireless customers for reliable basic and advanced broadband wireless services,” said Lowell McAdam, Verizon Wireless president and chief executive officer.

Alltel serves more than 13 million customers in markets in 34 states. This includes 57 primarily rural markets that Verizon Wireless does not serve. The transaction puts the Alltel markets and customers on a path to advanced 4th generation services as Verizon Wireless deploys LTE technology throughout its network over the next several years.

Alltel and Verizon Wireless both use a common network technology based on the CDMA standard, providing advantages of a seamless transition for Alltel customers, ease in integrating the two companies’ networks, and scale efficiencies in operating the larger integrated network.




comments powered by Disqus




Trending now »

Hot discussions in our forums right now:

NZ Prime Minister John Key Resigns
Created by ajobbins, last reply by frankv on 8-Dec-2016 15:12 (208 replies)
Pages... 12 13 14


Gareth Morgan is a genius
Created by Satch, last reply by Rikkitic on 8-Dec-2016 16:41 (41 replies)
Pages... 2 3


The President Of The USA - Who do you think?
Created by TimA, last reply by DarthKermit on 8-Dec-2016 16:22 (909 replies)
Pages... 59 60 61


Dishwasher not Working Properly
Created by tdgeek, last reply by mdav056 on 5-Dec-2016 20:18 (28 replies)
Pages... 2


Wilson's Car Park - When Free is not free
Created by nzkiwiman, last reply by ajobbins on 8-Dec-2016 13:31 (47 replies)
Pages... 2 3 4


Spark wireless broadband and home /lan access: CGNAT limitations
Created by yokkem, last reply by BarTender on 8-Dec-2016 15:57 (19 replies)
Pages... 2


Spark not planning to deploy native IPv6 at all. Ever.
Created by Erayd, last reply by sbiddle on 7-Dec-2016 20:57 (19 replies)
Pages... 2


JB Hifi Cost & GST Sale - 7th Dec
Created by Finch, last reply by Kopkiwi on 7-Dec-2016 15:11 (16 replies)
Pages... 2