Basking Ridge, N.J.-based Verizon Wireless announced it has completed the $5.9 billion purchase of Alltel, making Verizon the nation's top wireless carrier in terms of subscribers.

Verizon said it will also take on $22.2 billion in Alltel debt.

Verizon CEO Lowell McAdam said it would take a year after closing the sale to assess employee retention. It will keep all Alltel employees below the executive level as the company determines which jobs need to be cut or kept under the new arrangement.

"Alltel employees below executive level will continue in their present jobs as Verizon Wireless assesses staffing needs required to best serve customers and achieve synergies," the company said in a news release.

The buyout is expected to result in the loss of nearly 3,000 employees at Little Rock, Ark.-based Alltel's headquarters.

Verizon has 85,000 employees.

Verizon picks up Alltel's 12.9 million subscribers, though 2.1 million of them are in territory that will be sold. Verizon will have 83.7 million total subscribers.

Verizon said Alltel customers won't need to take any action, though they will soon receive a letter explaining the transition. Most will be able to keep their handsets as Verizon and Alltel share the same system.

1. Posted by DonLouie	Mon Jan 12, 2009 2:48 am
I wonder how m2m will be handled between red and lil blue
2. Posted by cmoser7	Mon Jan 19, 2009 9:56 pm
Are Alltel customers now part of Verizon Wireless’ IN calling service? Not yet, however, we expect to have more information about IN calling with Alltel customers very soon. Stay tuned! Is Alltel’s MY Circle feature available now to Verizon Wireless customers? My Circle will continue to be available to Alltel customers while they are on an Alltel price plan. At this time, Verizon Wireless is evaluating whether a similar plan will be offered to new and existing Verizon Wireless customers
3. Posted by calvin	Tue Jan 20, 2009 4:22 am
Check this - i think some job positions d be retained Verizon Acquisition of Alltel Closes January 9 Company to become largest wireless carrier 11:31AM Sunday Jan 04 2009 by Karl Bode tags: competition · business · wireless · Verizon Wireless Broadband According to Verizon filings with the SEC, their acquisition of Alltel will close on January 9. Verizon will pay $5.9 billion and acquire $22.2 billion in Alltel debt, but will be acquiring about 13 million customers -- creating the largest wireless phone company in the country, with 83 million customers (AT&T has 74.9 million, Sprint has 50.5 million, and T-Mobile has 32.1 million). Verizon has stated they will retain some call center positions after the acquisition, but many redundant positions at Alltel will be eliminated.

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