Verizon in Talks to Buy Alltel
RENEE MONTAGNE, host:
NPR's business news starts with a mobile phone merger on the table.
Verizon is in advance talks to buy the phone company Alltel, which serves rural areas. The price they're talking is about $27 billion. Verizon is the second largest mobile phone company in the U.S.. But if it buys Alltel, Verizon would vault over AT&T to become number one with more than 80 million customers.
These merger talks are happening as mobile phone executives face an increasingly saturated market, a market where most people already own cell phones. One of the only ways they can keep their companies growing is to buy other companies.
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