Federal Communications Commission approves Alltel acquisition

The Federal Communications Commission has now confirmed that they have now approved the buyout of Alltel Corp.

The deal is worth around $27.5 billion and it is being acquired by Atlantis Holdings LLC.

Atlantis Holdings LLC consists of TPG Capital and GS Capital Partners.

Alltel is the United States’ fifth-largest wireless carrier and it provide these services to more than 12 million customers in 36 states.

FCC while announcing their approval said that they are sure that the deal would not hurt the rival companies in this telecom industry.

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