Verizon Alltel acquisition approved by Department of Justice

Verizon Wireless must be jumping with joy as finally the Department of Justice has given its approval for Verizon’s $28 billion deal to purchase Alltel Communications subject to required divestitures of wireless assets in 100 markets and across 22 states.

Assistant attorney general in charge of the antitrust division, Thomas Barnett, said: “The divestitures required are necessary to protect wireless customers and are among the most extensive required by the department in a wireless case.”

The Department of Justice has said the divestitures will cover the entire states of North Dakota and South Dakota, sections of Arizona, Alabama, California, Idaho, Illinois, Iowa, Minnesota, Nebraska, Nevada, New Mexico, North Carolina, Ohio and Virginia, and major areas of Colorado, Georgia, Kansas, Montana, South Carolina, Utah and Wyoming.

Source – RCR