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Verizon and Alltel set a date

After a brief engagement, Verizon and Alltel have set a date to finalize the $5.9 billion purchase; January 9, 2009. Seventy-Eight Million subscribers will be the guests at the blessed event putting Verizon about 3 million customers ahead of AT&T, thier closest rival. The deal doesn't come without baggage though, Verizon will assume Alltel's $22.9 billion in debt. Verizon reports that they have recieved commitments from eight financial institutions to provide $17 billion in financing for the deal making this a very expensive ceremony.

Businessweek via Engadgetmobile.com

1 Comment
  • Heavy price to pay for bragging rights... Hopefully though this means Verizons push to leave CDMA will be more complete for the country. It would be nice for everyone to be on the same page as far as towers and coverage go.