Alltel Close to Sale
Sources reported today that two equity firms are close to purchasing Alltel, the fifth largest wireless carrier in the United States. Alltel stated in an earnings conference call in February that the company was exploring strategic options. Analysts estimate that Alltel's sale price will be between $25 and $30 billion dollars.
Several other equity firms are rumored to be interested in purchasing Alltel. These firms are likely looking at Alltel as a short term investment until it can be sold to a larger carrier. Alltel is a CDMA carrier, which makes Verizon and Sprint the most likely major carriers to be interested in it.
