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Verizon buys Alltel wireless for $28B

Verizon shares rose sharply on news it's buying Alltel for about the same price its private-equity owners paid to take the wireless provider private last year. Verizon-Alltel, with 80 million customers, will be larger than AT&T and a stronger competitor vs Comcast and other home-media utilities.

That makes Verizon the No. 1 U.S. wireless company, with 80 million customers, outgunning AT&T, and also flanking Comcast and other telecom competitors in the war to sign up phone-video-Internet-data users. Bloomberg story

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