Verizon (VZ) has to sell about $3 billion worth of subscribers, spectrum, and infrastructure as part of its $28 billion acquisition of Alltel. Its arch rival AT&T (T) could be the top bidder, the WSJ reports.
The assets include about 2 million subscribers, which would slim the gap between Verizon and AT&T — Verizon has about 84 million, while AT&T has about 77 million.
AT&T and Verizon have nearly 60% of the U.S. market, so any deal could face antitrust scepticism. And Alltel (and Verizon) use a different wireless technology than AT&T, so they’d eventually have to convert them.