In a regulatory filing on Friday, Verizon has revealed that it expects to finalize and close the Alltel acquisition on Friday, including the absorption of $22.2 billion in debt, $17 billion of which will be covered by commitments from eight institutions despite the current financial situation.
Verizon had purchased Alltel for $5.9 billion in equity from its former owners in TPG Capital and KPMG with concessions made (such as selling off overlapping markets) to earn the approval of the Department of Justice, Federal Trade Commission, and FCC.
Verizon is expected to locate a new call center in Little Rock, Arkansas while eliminating up to 3000 white collar jobs made redundant as a result of the purchase, while confirming more specific details on Friday.
