FTC clears Verizon acquisition of Alltel, last hurdle crossed
It's already made it past the Department of Justice and the FCC after making a few concessions, and Verizon has now cleared the last major hurdle blocking its acquisition of Alltel, with the Federal Trade Commission today giving the deal its all-important stamp of approval. Unlike the other regulatory agencies, the FTC apparently didn't require that Verizon make any further concessions, and instead simply approved an early termination of their antitrust review and indicated that they had "no objections." For those keeping track, the deal easily pushes Verizon past AT&T to become the largest wireless carrier in the United States and, as we have heard, it'll also likely have the side effect of some job cuts from the Alltel benches.
[Via RCR Wireless]
