Rumor: Verizon Wireless to buy ALLTEL

May 31 2005 - 11:32 PM ET | Verizon Wireless
Verizon Wireless may be in merger negotiations to buy competitor ALLTEL according to a report filed on Engadget. Rumors surrounding a buyout by Verizon Wireless are nothing new--earlier this year there was word Sprint PCS was a likely candidate--but this deal would put Verizon Wireless back as the #1 US wireless carrier. Cingular took that title from Verizon Wireless after the merger with AT&T Wireless was completed. Telecom pundit Om Malik doesn't see this deal happening because of parent Verizon's merger with MCI and potential approval problems.