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Verizon Announces Agreement To Buy Alltel

VerizoncoveragemapChad sold out! I guess this means that Verizon will take the title of the largest wireless network by buying the 5th largest.

Personally I tried reading all this stuff in the press release made by Vodaphone about the acquisition but I don’t understand half of it. Personally it set off my bullshit detector… I couldn’t even make this stuff up.

“We expect the acquisition of Alltel to significantly increase the value of our 45% interest in VZW through the realisation of substantial in-market synergies and to reinforce its leading position in the world’s largest mobile market by revenues. Whilst VZW’s free cash flows will initially be deployed in reducing net debt, the VZW Board has agreed to conduct an annual dividend review process and to the payment of enhanced tax distributions.”

What exactly does “realisation of substantial in-market synergies” mean? Does that just mean it was a good deal? Also who uses the word “Whilst.”

Check out the full story at Vodaphone or Engadget

2 total comments on this postSubmit your comment!
  1. “realisation of substantial in-market synergies” mean?
    It means they can eliminate staff and reduce hardware since there is overlap in Alltel and Verizon coverage. Remember, this PR is targeted at investors, not at the public!

    Does that just mean it was a good deal?
    I may be in the minority, but I think its a good deal. For any Alltel customers who travel outside their home area they are now “home” anywhere Verizon covers. Plus even though Verizon device selection is crappy, it’s far more extensive than Alltel has ever offered. Unfortunately, Alltel locked down their devices almost as much as did Verizon, so there’s no impetus as part of this deal for Verizon to “open up” a bit. 🙁

    Also who uses the word “Whilst.”
    Brits. i.e. Vodafone execs. 🙂

  2. Is the Verizon-Alltel deal good for consumers?

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