>

Verizon ploughs ahead with Alltel $28.1 Billion deal

Although America’s financial climate has worsened, Verizon Wireless is to move forward with their plan to acquire Alltel Corp. for $28.1 billion.

New York-based Fitch Ratings, Bill Densmore, says: “Considering the size of this deal, it would be surprising that Verizon would enter something with such significant risk that it really threatens to preclude this deal from closing.”

Verizon maintain the deal, which will make Verizon the largest carrier in the country, is still on track to be finalised by the year’s end. But Fitch Ratings who evaluates companies’ financial strength for world credit markets are not so sure.

Source — Yahoo