Verizon Wireless on track with Alltel’s acquisition worth $28.1 billion (USA)
Verizon Wireless is on track for Alltel’s acquisition worth $28.1 billion, even though the country sees a financial downfall.
According to company spokeswoman Robin Nicol, the telco plans to close the deal by year end, becoming USA’s largest wireless carrier.
“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,” said Bill Densmore of New York-based Fitch Ratings.
For the acquisition Verizon needs to be financially strong so as to buy the assets, which may be sold to get the approval of federal regulators. Additionally, Verizon has to shun off a large number of it’s subscribers for the regulatory approval, regarding which nothing has emerged from the talks between the telco and Department o Justice.
“There could be more markets we have to divest. Right now we have no idea,” Robil Nicol said. “But even if those numbers increase, we still think we’ll be able to reach an agreement with DOJ.”
