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Excerpt: FCC Approves $24.7B Acquisition of Alltel


FCC Approves $24.7B Acquisition of Alltel

 

The agency’s vote clears ways for the private equity buyout of the nation’s fifth-largest cellular carrier.

The Federal Communications Commission is approving the $24.7 billion private equity buyout of Alltel, the nation’s fifth-largest cellular carrier. With the approval handed down Oct. 26, Alltel expects to close the $71.50 per share deal by the end of November.

The FCC ruling determined that the acquisition would not result in competitive harm and that the additional capital provided by Atlantis Holdings would allow the company to acquire additional spectrum to expand its network. Atlantis is a holding company controlled by the principals of TPG Capital and The Goldman Sachs Group.

Read the rest of this eWEEK story: “FCC Approves $24.7B Acquisition of Alltel”

FCC federal government approves $24.7B acquisition of Alltel

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