Verizon Wireless: Alltel acquisition on track

Verizon Wireless: Alltel acquisition on track

Verizon Wireless has said in a statement that their acquisition of Alltel is still on track.

The company recently announced a deal worth $28.1 billion to acquire their rivals in the US market.

Verizon said that they are going ahead with the deal despite the worsening financial climate in the country.

They are still aiming to complete the deal by the end of the year. Though market analysts say it might face troubles. Analyst Bill Densmore spoke about the deal: “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 from closing.”

Verizon spokesperson Robin Nicol said: “There could be more markets we have to divest. Right now we have no idea. But even if those numbers increase, we still think we’ll be able to reach an agreement with DOJ.”