TGP Capital and GS Capital Partners have finalized their buyout of Alltel Wireless for $24.7 billion, which makes the fifth largest carrier a private entity. The deal had already won approval from shareholders and the FCC. Concerns linger for the carrier, however, since it had to take on $23 billion in debt to finance the buyout. Some say this burden could limit the carrier's ability to grow and participate in the upcoming 700 MHz spectrum auction. The company's latest filing makes it clear that there is no guarantee that Alltel will be a successful bidder in the auction, and this debt could solidify that concern.
For more on Alltel's going private:
- read this article from the AP
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