Verizon Wireless agrees to divest assets to purchase Alltel!
According to RCS Wireless, Verizon Wireless, in order to meet Department of Justice approval, has agreed to divest some of its assets with the hopes the concessions will allow their intended purchase of mobile phone provider Alltel to progress.
Therefore, Verizon Wireless has agreed to sell off 85 markets over eighteen states, which will mostly be in rural areas where Verizon’s service overlaps with that of Alltel’s such as North Dakota and South Dakota as well certain areas in California, Colorado, Georgia, Illinois, Idaho, Minnesota, Kansas, Montana, New Mexico, Nevada, North Carolina, South Carolina, Ohio, Utah, Wyoming and Virginia.
In addition to this agreement, Verizon has also agreed to particular roaming conditions, however the agreement on these two concessions still does not guarantee the purchase of Alltel has been approved.
The Department of Justice may still require Verizon Wireless to take further action to fall in lie with regulatory requirements.