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FTC approves Verizon-Alltel deal
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The Federal Trade Commission approved Verizon Wireless' $28.1 billion acquisition of Alltel on Wednesday, clearing the last major hurdle to the closure of the deal that will create the nation's largest wireless carrier.
Antitrust regulators at the FTC included the deal on a list of transactions that received "early termination" of their antitrust reviews. An early termination means that the review was completed before the end of a 30-day period required under antitrust law. The deal was given approval by antitrust regulators at the U.S. Department of Justice in late October and the FCC approved the deal Nov. 4. Verizon agreed to divest from 105 markets where the two carriers had overlapping coverage.
The newly merged carrier will have more than 80 million subscribers, surpassing the nearly 75 million of AT&T Mobility.
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Comments
Posted by smshirk | December 13, 2008 - 6:04am
What do we need anti-trust regulators at the Federal Trade Commission for? They rubber stamp every acquisition/merger that comes before them. So now Verizon is bigger than AT&T Wireless. Which company will be allowed to buy Alcatel-Lucent, thus creating World-Electric, and putting the Bell System back together again. Humpty-Dumpty should have been so lucky.
I will answer my own question, whichever behemoth decides they can make money dismantling the company (ALU) and keep the products that are still viable. Will the democrats change the eco-political landscape. If so, what will it look like torn back apart?
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