The Justice Department wants Verizon Wireless to sell assets in 22 states before merging with Alltel Corp. in a $28 billion deal to create the largest wireless carrier in the United States.

Although America’s financial climate has worsened, Verizon Wireless is to move forward with their plan to acquire Alltel Corp. for $28.1 billion. New York-based Fitch Ratings, Bill Densmore, says: “Considering the size of this deal, it would be surprising that Verizon would enter something with such significant risk that it really threatens to preclude this deal

According to the Financial Times, Verizon Wireless has retained Morgan Stanley to sell the overlapping assets it will have in 85 cellular markets as a result of its proposed acquisition of Alltel Corp. Morgan Stanley has reportedly valued the assets, which are spread throughout the U.S., to be between $3 billion and $4 billion. Potential buyers had to submit proposals indicating their interes...

The 8th U.S. Circuit Court of Appeals affirmed that a Missouri city can recover back taxes from AT&T Mobility and Alltel Corp. ... - Jeffrey Silva

It has been revealed that Alltel Corp tried to buy Sprint Nextel prior to being swallowed up in turn by Verizon Wireless a couple of weeks ago.

Verizon Wireless's acquisition of Alltel Corp. isn't a "game-changer" that will throw the carrier off, said Verizon Communications President and Chief Operating Officer Dennis Strigl in a conference call Tuesday.

“Verizon Wireless is in talks to acquire regional wireless carrier Alltel Corp. for about $27 billion, a deal that would create the nation's largest cellphone company and a more potent rival to AT&T Inc., people familiar with the matter say.”

Verizon Wireless' deal to buy Alltel Corp. for $5.9 billion was applauded by investors and should mean a greater range of choices for Alltel subscribers, but some worried that Alltel's commitment to rural coverage will get lost.

Reuters - Verizon Wireless said on Thursday it would buy rural mobile phone service provider Alltel Corp for $28.1 billion including debt, which would vault it to first place in the U.S. market ahead of AT&T Inc.

Verizon Communications's $28.1 billion agreement to acquire Alltel Corp. is the latest megamerger in a wireless industry that's quickly consolidating to compensate for slowing subscriber growth.