Verizon Wireless buys Alltel; Becomes largest Wireless Operator ahead of AT&T.

"The rumors are true. Verizon Wireless announced this morning that it will purchase Alltel Corp. in a cash merger valued at $28.1 billion... This will make Verizon Wireless the No. 1 wireless operator in the U.S. with nearly 80 million subscribers. Verizon currently has more than 65.7 million customers while Alltel has about 13.2 million subscribers in 34 states. AT&T will move to the No. 2 position with about 71.4 million customers."