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Verizon Wireless purchases Alltel

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Verizon Wireless, a joint venture of Verizon Communications and Vodafone has completed its purchase of Alltel Corporation from Atlantis Holdings LLC.

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Verizon paid approximately $5.9 billion for the equity of Alltel. Immediately prior to the closing, the Alltel debt associated with the transaction, net of cash, was approximately $22.2 billion.

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