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BUSINESS BRIEFING / MERGERS

Verizon's purchase of Alltel advances

October 31, 2008|From Times Wire Services

The Justice Department effectively gave Verizon Wireless the go-ahead to buy Alltel Corp. in a $28-billion deal that would create the nation's largest wireless carrier with at least 78 million subscribers.

Verizon Wireless, a joint venture between Verizon Communications Inc. in New York and Britain's Vodafone Group, already has agreed to the government's condition that it sell assets in 22 states to acquire the Little Rock, Ark., company.

The Federal Communications Commission is slated to vote on the takeover Tuesday.

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