Verizon & Alltel Merger Gets Approval

Verizon Wireless has received approval from the US Justice Department to purchase rival Alltel.  Alltel services many rural areas and as a consequence Verizon will have meet some conditions. The Justice Department said it will require Verizon to divest assets in 100 areas in 22 states in order to proceed with its $28 billion acquisition. The government said that the transaction as originally proposed would have substantially lessened competition to the detriment of consumers of mobile wireless telecommunications services in those areas, and likely would result in higher prices, lower quality and reduced network investments. To read the full story go

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