AT&T, Private Equity And Cable Providers Sniffing Around Verizon Assets


imageWhen Verizon Wireless (NYSE: VZ) bought Alltel (NYSE: AT) last year, it agreed to divest roughly $3 billion in assets in order to get the deal approved. Now the short list on who is interested in those assets leaked out today. The WSJ reported the parties include Verizon’s chief rival, AT&T; a joint bid from private equity firms Carlyle Group and KKR; a standalone bid from Providence Equity Partners and also least one cable provider. The assets are valued at roughly $3 billion and include 2.1 million wireless subscribers in 22 states, as well as wireless spectrum and other assets necessary to run the businesses in those markets. The WSJ said AT&T (NYSE: T) is in the strongest financial position to buy the spectrum, but the critics question whether that party would be in the best interest of consumers since it would be transferring assets from one large company to another.

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