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Verizon Wireless to Complete Alltel Acquisition on January 9

Date: 1/7/2009 11:08:54 AM

Verizon Wireless is set to become America’s biggest cell phone carrier on January 9, when it closes its $28.1 billion acquisition of smaller rival, Alltel Corp.

Verizon revealed the planned closing data in a filing with the Securities and Exchange Commission on Friday. The company will pick up 13 million wireless subscribers as a result of the Alltel deal, bringing its total customer base to more than 83 million.

Current market leader, AT&T, will fall to the #2 position with 74.9 million subscribers, followed by Sprint Nextel and T-Mobile USA, with 50.5 million and 32.1 million customers, respectively.

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