Verizon-AllTel Deal Approved by Justice Department
The US Department of Justice has formally approved -- there was little question it would not -- the acquisition of AllTel by Verizon. The $28.1 billion deal did come with the condition that assets be divested in roughly 100 US markets where both companies currently operate. There remains the perfunctory step of FCC approval before it can be truly finalized.
The combined company will be the largest in the US and have roughly 84 million subscribers. AT&T has 75 million and Sprint has 51 milllion, followed by T-Mobile at 31 million.