The deal between Verizon (NYSE:VZ) and Alltel will be finalized on January 9, with the deal said to be worth $5.9 billion it’s about time the regulatory miscellany was over.

When Verizon and Alltel finally merge they will have a combined 78 million subscribers, taking them about 3 million ahead of AT&T (NYSE:T) their closest rival. However although the staggering combined subscribers is something to shout about Verizon will also be assuming some $22.9 billion in Alltel debt.

It’s also been reported that the merger will mean some job losses in Alltel headquarters in Little Rock, Arkansas, but it’s widely expected that with AT&T Mobility headquarter in Atlanta just down the road, that the loss of Verizon’s headcount could ultimately be AT&T’s gain.

Source: engadgetmobile