Alltel for Sale?
Back in February, Alltel announced that they were "reviewing its strategic options." This has lead rumors swirling that companies like Verizion might try to scoop up the company. Currently Alltel is valued at around $30 billion, and a purchase offer is being proposed by Private equity firms Providence Equity Partners and The Blackstone Group, in the range from $25 to $30 billion. Will the company be picked up by a private firm, or will someone like Verizon or Sprint swoop in to add to it’s current subscriber base? A purchase from Verizon would boost the company into the number one spot in terms of subscribers, currently a position held by AT&T. What will happen to Alltel’s MyCircle plan if they are purchased by another carrier?
That price should be “billion.”
I knew it would be only a matter of time.
the purchase is by two private firms who will either sell it off again to the highest bidder or, chop it into little pieces and sell it off. Either way all is well (for now at least).