Verizon Wireless to Eat Alltel Wireless in $5.9 Billion Deal, Become Largest in U.S.
Tuesday January 6, 2009
The U.S. will have a new largest wireless carrier. It’s not AT&T. It’s not Sprint. It’s not T-Mobile.
It’ll be Verizon Wireless as of Jan. 9, 2009, the carrier said on Jan. 2, 2009 in a regulatory filing as it makes official its acquisition of “come and get your love” cell phone carrier Alltel Wireless.
Images © Verizon Wireless, Alltel Wireless
The deal, which is valued at a whopping $5.9 billion, has been rumored for 1.5 years and was announced in June 2008. Bringing Alltel into the Verizon Wireless family will mean the wireless juggernaut will have 78 million paying subscribers.
Even with the Alltel customer base, the 78 million figure only puts Verizon Wireless 3 million customers ahead of AT&T, which is its top rival.
Verizon Wireless, though, will have to wrangle with $22.2 billion in Alltel debt. The carrier is getting loans from eight different institutions in the amount of $17 billion to be able to swallow it.
Alltel was the fifth-largest carrier in the U.S.
Its coverage map mostly spans the interior of the U.S. Reports this week indicate that the merger will likely mean some Alltel jobs will be cut in its Little Rock, Ark. headquarters.
It’ll be Verizon Wireless as of Jan. 9, 2009, the carrier said on Jan. 2, 2009 in a regulatory filing as it makes official its acquisition of “come and get your love” cell phone carrier Alltel Wireless.
The deal, which is valued at a whopping $5.9 billion, has been rumored for 1.5 years and was announced in June 2008. Bringing Alltel into the Verizon Wireless family will mean the wireless juggernaut will have 78 million paying subscribers.
Even with the Alltel customer base, the 78 million figure only puts Verizon Wireless 3 million customers ahead of AT&T, which is its top rival.
Verizon Wireless, though, will have to wrangle with $22.2 billion in Alltel debt. The carrier is getting loans from eight different institutions in the amount of $17 billion to be able to swallow it.
Alltel was the fifth-largest carrier in the U.S.
Its coverage map mostly spans the interior of the U.S. Reports this week indicate that the merger will likely mean some Alltel jobs will be cut in its Little Rock, Ark. headquarters.
Comments
Well as Verizon customer I hope to see an improvement in 3G networks. I live in rural area and get “V” service from to near by towns, they call it extended network. It is slow and calls drop alot. Hoping this new take over means better service for me and others that have “V” service, in an Alltel town. And remember Be Safe….