Private investors will acquire wireless carrier Alltel in a deal worth around $27.5 billion, as the private equity buyout trend reaches into the mobile space for the first time. Alltel's board of directors agreed over the weekend to be acquired by TPG Capital and Goldman Sachs Capital Partners for $...
The long-discussed consolidation of the wireless communications industry appears poised to pick up speed again, with the Federal Communications Commission said to be on the verge of approving Sprint's US$35 billion acquisition of Nextel Communications. Staff at the FCC have reportedly forwarded reco...
Stocks posted modest gains today as merger activity sparked a rally that petered out by the end of the session as investors turned a wary eye to the upcoming earnings season. The first wave of corporate earnings reports comes this week and got off to a mixed start as metals giant Alcoa posted a less...
Telephone service provider Alltel has finalized a deal to buy fellow niche carrier Western Wireless for US$4.4 billion in cash and stock as the merger activity in the wireless field moves into the regional space. As part of the deal, Alltel will take on about $1.5 billion in debt that Western Wirele...
Stocks closed mixed today, with the Dow and the S&P 500 ending their three-day losing streaks, but the Nasdaq still stuck in reverse. The Dow ended at 10,622.88, up 25.05 points, or 0.24 percent. The Nasdaq fell 1.24 points, or 0.06 percent, to 2,090.00. The S&P 500 gained 4.15 points, or 0....
Reports of the demise of the consolidation trend in the wireless sector might have been premature, as Alltel, which currently ranks sixth in the U.S., is reportedly in talks to buy regional carrier Western Wireless. The deal, which has yet to be made official, would be worth an estimated US$4 billio...
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