June 04, 2008, 9:04 PM — Verizon Wireless is considering an acquisition of wireless provider Alltel
Corp. in a deal that would be valued at about US$27 billion, according to
a Wall Street Journal report
Verizon and Alltel, if combined, would create a carrier with about 80 million
subscribers. Current frontrunner AT&T
Inc. has more than 71 million customers.
A Verizon-Alltel deal would likely cause antitrust concerns that would be considered
by the U.S.
Department of Justice and Federal Communications Commission, according to
The Wall Street Journal report on the matter.
The Journal cited people familiar with the matter, but officials at both Alltel
and Verizon could not be reached immediately for comment.
Just over a year ago, Alltel agreed
to be bought out by TPG Capital LLP and the private equity division of Goldman
Sachs Group Inc. That deal was valued at $27.5 billion at the time it was announced
in May 2007.