Verizon not interested in Alltel, CEO

Mar 21 2006 - 02:14 PM ET | Verizon Wireless, Vodafone

Verizon CEO Ivan Seidenberg noted today in a New York Times article that his company isn't interested in buying Alltel as some analysts have predicted. "Alltel, he said, would only make Verizon bigger, not necessarily faster-growing." Alltel uses the same network technology as Verizon Wireless, which made it the most likely takeover candidate. Verizon is looking to buy out Vodafone's stake of Verizon Wireless though, the 45% stake is likely worth between $38 billion and $43 billion.

Merger and acquisition rumors concerning Verizon came at a record pace after AT&T announced its takeover of BellSouth. The new company will completely control Cingular Wireless and is even thought to be bringing Cingular under the AT&T brand name.

[via FierceWireless]