Verizon Wireless to sell assets as part of deal to acquire Alltel

Verizon Wireless to sell assets as part of deal to acquire Alltel

The US Department of Justice has given its approval to Verizon in their quest to acquire Alltel.

Verizon would however be required to sell assets if they are going to acquire Alltel.

The merger of two companies would practically create the largest mobile company in the US market.

Verizon spokesperson Robin Nicol spoke about the new developments: “We’re pleased that the Department of Justice has granted approval. It’s another step in the right direction.”

Federal Communications Commission is now expected to announce their decision next week.

Assistant Attorney General Thomas O. Barnett added his views on the deal: “The divestitures required are necessary to protect wireless customers and are among the most extensive required by the department in a wireless case.”