DOJ Tells Verizon To Divest Before Buying Alltel

Law360, New York (October 30, 2008, 12:00 AM EDT) -- The U.S. Department of Justice ordered Verizon Communications Corp. on Thursday to divest assets in 22 states before going forward with its $28 billion buyout of Alltel Corp. to create the country's largest cell phone provider.

The DOJ's Antitrust Division, along with a number of state attorneys general, filed a lawsuit and proposed settlement in the U.S. District Court for the District of Columbia, recommending the court block the merger unless Verizon agrees to sell off the assets, which are spread across 100 areas.

“The divestitures...
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