Verizon Wireless divest some assets to complete the planned Alltel acquisition
By Dusan Belic on Monday, July 28th, 2008 at 4:16 AM PST In Alltel, Verizon
Verizon (NYSE: VZ) Wireless will divest some assets to meet Department of Justice approval so it could continue with its intended purchase of Alltel. The CDMA carrier agreed to sell off 85 markets across 18 states, where its services overlap with Alltel’s.
Affected areas include North Dakota and South Dakota as well certain areas in California, Colorado, Georgia, Idaho, Illinois, Kansas, Minnesota, Montana, Nevada, New Mexico, North Carolina, Ohio, South Carolina, Utah, Virginia and Wyoming.
In addition, Verizon also made commitments to the FCC to maintain the terms of existing roaming agreements with Alltel.
However, all this doesn’t mean Verizon will be able to complete the planned acquisition. The DoJ may issue further demands to Verizon to satisfy antitrust concerns.
[Via: PhoneScoop]
