Verizon announced its intention to purchase Alltel this summer and now they finally can. The Department of Justice has approved the transaction last week and the FCC has just approved it too. Verizon will pay $5.9 billion and it will assume Alltel’s debt of $22.2 billion. That’s a $28.1 billion deal, but who’s counting?

Besides the money, Verizon will comply with all the requests of the FCC. Verizon will have to maintain any roaming agreements between Alltel and other carriers for at least four years. And that’s about all that the FCC asked for.

The merger will transform Verizon into the number one carrier in the USA. Verizon will total 83.8 million subscribers, including the 13 million Alltel subscribers and thus it will surpass AT&T which currently has 74.8 million subscribers.

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