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Roundup: Verizon buys Alltel, CalPERS backs Khosla, and more

Posted on June 06, 2008

Verizon to buy Alltel, your cell phone bill to go up? Verizon has concluded a deal to buy smaller wireless operator Alltel for $27 billion. Combined, the two will pass AT&T to become the largest operator in the US. Alltel has many users in the Midwest, and it has gotten relatively good marks for things like customer service, that market leaders like Verizon and AT&T are not known for. Analyst Craig Moffett of Sanford C. Bernstein is optimistic about such consolidation driving up prices for consumers. The New York Times quotes him as follows: The consolidation of Alltel takes another step ...

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