Verizon Buyout of Alltel Still On Track

Verizon noted today that it is indeed moving forward with plans to acquire Alltel for $28.1 Billion US Dollars. That’s a lot of dough. The deal would make Verizon the largest wireless carrier in the US. A spokesperson for the company has noted that they hope to close this deal before the end of the year. Plans are to keep moving forward on this deal, despite the current financial crisis going on in the US.

A major ratings firm (Fitch Ratings) that evaluates a companies financial strength for world credit markets isn’t so sure of the deal… they noted:

“Considering the size of this deal, it would be surprising that Verizon would enter something with such significant risk that it really threatens to preclude this deal from closing…”

All reports have this deal closing in the near future, but the skeptics are out. We’ll have to see how this goes down.

[Via: Yahoo! News]

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