FCC Approves Verizon's $28 Billion Alltel Deal

Good news for Ivan Seidenberg’s Verizon: The FCC has approved its $28 billion merger with wireless carrier Alltel, announced in June. The deal makes Verizon (VZ) the biggest wireless carrier in the country, though it will have to divest about 2 million of Alltel’s subscribers.

Verizon shares are down 0.1% in after-hours trading, according to Google.

Thanks to tech journalist Drew Clark for tweeting today’s FCC meeting; the FCC’s Webcast servers won’t let us in.

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