Monday, January 5, 2009

Verizon's purchase of Altel to close Friday

According to Wireless Week, Verizon Wireless will close its acquisition of Alltel this Friday.

The merger makes Verizon the largest U.S. wireless carrier, passing AT&T by a few million subscribers. Verizon and AT&T are pulling away from Sprint Nextel, which continues to lose subscribers.

Alltel attempted to buy Sprint, but wasn’t able to fund the deal because of last year’s credit crisis, the Arkansas News said.

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