Mergers and Acquistions News
Categories: Telecoms
October 31st 2008, 16:55PM
Authorities have effectively given the go-ahead to a merger between Verizon Wireless and Alltel, it has been revealed.
According to an Associated Press report, the US justice department has agreed to the deal on the condition that Verizon Wireless - which is a joint venture between Vodafone Group and Verizon Communications - sells its assets in 22 states.
Commenting on the planned merger, Robin Nicol, a Verizon Wireless spokeswoman, said: "We're pleased that the department of justice has granted approval.
"It's another step in the right direction."
The deal, which would create the US' largest wireless communications carrier, is valued at $28 billion (£17.24 billion).
Meanwhile, the federal communications commission is set to vote on the merger next week.
If the deal goes ahead, Verizon Wireless will have in the region of 80 million wireless subscribers and will cover an area encompassing around 290 million people, making it the largest network in the country. 
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