FCC APPROVES VERIZON-ALLTEL MERGE

Here's some interesting update for Verizon Wireless subscribers. According to an AP article, the Federal Communications Commission or FCC has approved Verizon Wireless' request to acquire Alltel for $28 billion. The FCC commisioners voted unanimously to approve the Verizon-Alltel union. However, Verizon needs to fulfill the conditions imposed by the FCC to complete the deal. For instance, Verizon is required to honor Alltel's existing roaming agreements with other mobile phone carriers for four years. The US Department of Justice also demanded that Verizon must divest it spectrum in 22 states before it can successfully acquire the regional wireless carrier.