scoobydoo
January 9th, 2009, 2:53pm
LITTLE ROCK, Ark. (AP) - Verizon Wireless says it has completed its $5.9 billion purchase of Little Rock-based Alltel Corp., making Verizon the nation's largest mobile phone company.
Verizon said Friday it will also take on $22.2 billion in Alltel debt.
Verizon says it will retain Alltel employees below the executive level as the company assesses its staffing needs.
When Verizon President and Chief Executive Lowell McAdam addressed an audience in Little Rock in August, he said it would take a year after closing the sale to assess which positions to keep and which to cut.
As a condition of the purchase, regulators forced Verizon to sell overlapping properties in 105 markets across 24 states.
Verizon picks up 12.9 million Alltel customers.
http://apnews.myway.com/article/20090109/D95JNO1O0.html
Verizon said Friday it will also take on $22.2 billion in Alltel debt.
Verizon says it will retain Alltel employees below the executive level as the company assesses its staffing needs.
When Verizon President and Chief Executive Lowell McAdam addressed an audience in Little Rock in August, he said it would take a year after closing the sale to assess which positions to keep and which to cut.
As a condition of the purchase, regulators forced Verizon to sell overlapping properties in 105 markets across 24 states.
Verizon picks up 12.9 million Alltel customers.
http://apnews.myway.com/article/20090109/D95JNO1O0.html