Verizon Wireless agrees to buy Alltel for $5.9 billion

Verizon Wireless has agreed to buy Alltel Corp. for $5.9 billion, which would make it by far the largest cellular carrier in the U.S.

NEW YORK (AP) — Verizon Wireless has agreed to buy Alltel Corp. for $5.9 billion, which would make it by far the largest cellular carrier in the U.S.

Verizon Wireless would also assume $22.2 billion in debt in the deal, bringing the total value to $28.1 billion, the parties said Thursday.