Verizon Needs More Time with Alltel
With the announcement of Verizon merging with Alltel last year, the government realized that this agreement would make Verizon the largest mobile cell phone provider in the United States. The Federal Communications Commission and Department of Justice required for the company to divest from 105 mobile markets where itself and Alltel happened to overlap one another. Each area however has about 200 pages worth of assets that need to be auctioned off, and Verizon is stating that because of the current economic situation and how it is forcing bidders to conduct far less quickly then usual, they need more time. Supposedly, the 120-day allotment of time that was given to them has not been enough so far to complete the requirements.