alltel

Verizon Wireless' plan to buy regional cell phone company Alltel will make it the largest cell phone operator in the country with more than 80 million subscribers.

But is a behemoth Verizon good for consumers?

Verizon is betting its planned purchase of Alltel will keep growth at its Verizon Wireless unit humming along.

The giant telco better be right, because it is borrowing a huge sum to make the deal happen.

Verizon Wireless says it is buying Alltel to become the largest mobile phone network in the US, overtaking AT&T.

Verizon will pay $5.9 billion for Alltel's equity and assume $22 billion in debt in a deal that comes less than a year after the private equity firms closed their purchase of Alltel.

The third time must have been a charm for Verizon Wireless and regional cell phone operator Alltel.

Verizon Wireless has supposedly looked at buying Alltel at least two other times in the past three years.

And on Thursday it announced it had finally pulled the trigger, announcing it plans to ...

Verizon Wireless said Thursday that it will buy Alltel to beef up its network for about $28.1 billion. The deal surfaced on Wednesday via various press reports and Verizon Wireless just made it official (statement).

What’s this deal about?

Host Renee Montagne has this morning's business news.

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Verizon Wireless is in talks to purchase rival Alltel Corp., according to a report Wednesday, in a deal that could create the largest mobile carrier in the United States.

The largest rural carrier in the U.S. said it, like Verizon, will use LTE to build its 4G network. That compatibility could ultimately lead to better coverage, more handsets offerings, and more open networks.

The Texas Longhorns take on the Austin Peay Governors in first-round action in the South Region at Alltel Arena in Little Rock at approximately 2 p.m.

CDT. Watch Texas post-game...