Verizon Close To Buying Alltel For $27 Billion

CNBC is reporting that Verizon Wireless is deeply involved in talks to buy rural cellphone giant Alltel Wireless for an estimated $27 billion. Alltel was recently taken private TPG and Goldman Sachs Capital Partners.

Verizon has long been looked at as the ultimate purchaser of Alltel, but failed to bid when the company was auctioned in the spring of 2007. According to people involved in that auction, Verizon believed Alltel’s valuation was too high.

Of course, that was a far different time in the credit markets, when financial buyers were routinely outbidding strategic buyers despite the cost savings and revenue synergies available to the strategic buyers.

What do you Alltel customers think of joining Verizon?

Will you go willingly?

Verizon in Talks to Buy Alltel for $27 Billion [CNBC]
(Photo: DWQ )