J Kinkaid
http://www.dslreports.com/shownews/ATT-To-Gobble-Up-VerizonAlltel-Divested-Markets-102350?
AT&T To Gobble Up Verizon/Alltel Divested Markets
$2.5 billion deal would offload majority of 85 markets...
04:49PM Friday May 08 2009 by Karl Bode
To gain approval for their acquisition of Alltel, Verizon was forced by the FCC to divest a number of Alltel markets by May 9, in order to maintain something vaguely resembling competition in the mobile market. The divested markets, which include all of North and South Dakota and chunks of sixteen other States, make up a decent-sized chunk of Alltel's former footprint -- though most of the 85 markets are in less profitable areas. Stocks rallied a bit late today on the news that -- not too surprisingly -- AT&T will be buying most of these markets for a cool $2.5 billion.