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Verizon Wireless agreed to buy Alltel for $28.1 billion, including $22.2 billion in debt, vaulting the combined company to first place in the U.S. mobile services market ahead of AT&T.
Britain's Vodafone confirmed on Thursday that U.S.-based Verizon Wireless, in which it has a 45 percent stake, is in advanced talks to buy U.S. rural mobile service provider Alltel.
May's chain store sales and weekly jobless claims will be factors in the market Thursday, as credit worries still manage to haunt stocks.
Verizon is deep in talks to acquire Alltel, the nation's fifth largest wireless carrier, for roughly $27 billion, people close to the talks have told CNBC.
Text messaging is huge with more than a billion texts sent per day. But why bother with words when you can send a video? Texting looks pretty old fashioned compared to a "Mogreet" mobile video message.
It's not easy for Sprint these days: It lost about 1 million customers last year and is readying to announce the amount of a huge write-off related to its Nextel merger. Then, just as it was ramping up for 2008, the first year in which the Nextel Cup Series would be renamed the Sprint Cup, the wrong driver's won the Daytona 500 on Sunday...
United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.
Analysts welcomed a federal judge's ruling to halt an import ban on mobile phones using chips from Qualcomm, which sent shares of the wireless technology company higher Thursday.
Cramer doesn't want investors making the same mistake he did in 1998. It's better to be an opportunistic buyer than a scared seller.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
U.S. telecommunications company AT&T said on Friday it will buy rural wireless carrier Dobson Communications for $2.8 billion in cash to expand its reach in rural and suburban markets.
Everquest Financial, which has ties to troubled hedge funds run by Bear Stearns, has called off a planned initial public offering, CNBC's Charles Gasparino reported, citing people familiar with the matter. Everquest was formed in May by several Bear Stearns executives and it filed for a IPO shortly afterward.
The problems facing two Bear Stearns hedge funds were triggered by a small markdown in some of the funds' holdings, which became amplified because of the funds' massive borrowing, market sources have told CNBC.
Risk has not dampened demand for deals, says Steven Costabile, managing director at AIG Global Investment Group. He and Tim Backshall, chief credit derivatives strategist at Credit Derivatives Research, told "Power Lunch" viewers to expect more mergers and acquisitions in the foreseeable future.
The Dow's record run hits a speed bump and the S&P 500 can't hold a new record high as worries about the economy and interest rates surface.
A U.S. District Judge might have denied NASCAR's request to stay an injunction that allowed the Cingular logo on Jeff Burton's car to be replaced with an AT&T logo, but NASCAR got a victory yesterday when Alltel agreed to a $25 billion private equity buyout. Let's go back and put this in context for you. NASCAR obviously did not want the AT&T brand on the track because it wasn't one of the brands that were grandfathered in when the governing body signed a 10-year, $700 million deal with Nextel to be the official telecommunications company of NASCAR. But consolidation in this industry is very common -- Sprint soon bought Nextel and AT&T bought Cingular.
The guys go behind the headlines and give you their take on... AIG's technical double top... speculation that OXPS is a takeover target ... and more. Find out where they see fast money.
Cramer called two of the latest: aQuantive and Alltel. Here's the name he thinks is next on the list.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks ended mixed as the S&P 500 failed to hold above its previous record, despite another busy day of mergers and acquisitions activity. "Everyone knew that the S&P was going to reach its old record but clearly there is resistance there," said Stephen Porpora, managing floor broker at William O'Neil.
TPG Capital and Goldman Sachs Partners are teaming up to buy wireless phone carrier Alltel for $71.50 per share. The news of the Alltel buyout is also driving up the shares of other domestic, rural wireless carriers. Christoper Larsen, analyst at Credit Suisse, appeared on “Morning Call” to discuss other possible wireless carriers stirring private-equity interest.
Shares in rural wireless provider Alltel surged more than 6% on Monday after it agreed to a $25 billion buyout by TPG Capital and the buyout arm of Goldman Sachs in one of the largest-ever private equity deals for a wireless carrier. The agreement closed months of speculation over a possible deal for Alltel, but questions were raised over the bid process.