According to the Financial Times, Verizon Wireless has retained Morgan Stanley to sell the overlapping assets it will have in 85 cellular markets as a result of its proposed acquisition of Alltel Corp. Morgan Stanley has reportedly valued the assets, which are spread throughout the U.S., to be between $3 billion and $4 billion.

Potential buyers had to submit proposals indicating their interest in the assets by Aug. 22 and Morgan Stanley is now expected to circulate the confidential information. A source told the newspaper that groups of carriers and individual carriers are interested in the Verizon's assets but no one has offered a price yet.

For more:
- See this article [1]

Related articles:
Verizon [2] snaps up Alltel for $28.1B
Verizon Wireless [3] willing to divest spectrum to merge with Alltel