FCC approves $24.7B acquisition of Alltel

The FCC has approved the $24.7 billion acquisition of Alltel by a private investment group, Atlantis Holdings, which is a holding company made up of TPG Capital and GS Capital Partners, a subsidiary of Goldman Sachs. The FCC said the deal would not hurt competition in the wireless industry and may lead to deployment of advanced wireless services in rural areas. The deal gives Alltel shareholders $71.50 per share in cash. Alltel said the deal should close by Thanksgiving, Nov. 22.

For more on the Alltel deal:
- read this article from the AP

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