*****ALLTEL MERGER****
According to my rep, When GTE became alltel, signed and dotted in the contract it was there where it was stated that no wireless company could buy alltel for the nesxt 10 years, therefore verizon is trying to bypass that by taking it to the supreme court to over rule that decision. Ive also heard if that does/ or doesnt go through that alltel will still be availble in the cleveland,tampa bay,and phoenix markets for the next 2 years.
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Once upon a time, (8 years ago) Alltel bought markets from Bell Atlantic/GTE - which became a part of Verizon, and Verizon agreed not to purchase the markets for 10 years without a judge's consent. Those markets will be placed in a trust, separate from the trust that will operate the markets required to be divested until they are sold.
Not that big a deal.
Not that big a deal.
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Keith-IA said:
Once upon a time, (8 years ago) Alltel bought markets from Bell Atlantic/GTE - which became a part of Verizon, and Verizon agreed not to purchase the markets for 10 years without a judge's consent. Those markets will be placed in a trust, separate from the trust that will operate the markets required to be divested until they are sold.
Not that big a deal.
There maybe a chance that the judge in this case might rule in Verizon's favor. Maybe not. We'll just have to wait & see. To the OP; Cleveland was already on the list to be divested before both the DOJ & the FCC ruled on the merger. Albuquerque, El Paso, Mobile Alabama, and whatever CMA is east of Cleveland got added to the list to...
(continues)
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The problem is every rep. has a different story. I am in Phx. and my rep said Alltel WILL NOT exist in 6mo. And he stresed that. Worst case scenario here he said is AT&T will take over those markets, if the judge doesn't rule in Verizon's favor.
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The 3 major markets in this last deal with Bell Atlantic - these markets make up about 5.8 mill. customers from Alltel. Why would Verizon purchase Alltel for half the customer base. They will go to bat and have the judge sign the deal and get those markets. I'm sure it will take a couple of months - but not too long - those guys are wicked smart.
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