Verizon to close Alltel deal Friday

Verizon Wireless says it will complete its acquisition of Alltel on Friday, January 9.

In an FCC filing late last week, Verizon Wireless said it would close its acquisition of regional carrier Alltel by Friday, January 9. Verizon is paying $5.9 billion for Alltel and its 14 million subscribers. After the merger, Verizon would surpass AT&T to become the largest carrier in the United States, with an expected 78 million customers.

As part of the deal, Verizon will close Alltel's headquarters in Little Rock, Ark., while retaining is own head office in Basking Ridge, N.J. Verizon will open a call center in Little Rock and sell assets in markets that overlap with Alltel.

Clarification: Verizon Wireless also assumed $22.2 billion in Alltel debt for a total acquisition worth $28.1 billion.

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