05th June 2008 10:14 AM   by Eric M. Zeman   updated Today, 9:24 AM

Verizon Wireless has agreed to acquire Alltel from the private equity firms that currently own the nation's fifth-largest national wireless provider. Verizon Wireless will acquire Alltel's assets, including 13 million customers and coverage in 57 markets where it has no presence, as well as Alltel's debt. The merged companies will surpass AT&T's 71 million customers to become the nation's largest provider of wireless goods and services with 80 million customers. The move will greatly expand the regions where Alltel's customers can roam without incurring fees, and also gives Verizon's customers greater freedoms in the rural markets where Verizon previously had no coverage. The merger should be completed by the end of 2008, depending on the required r ... Read more »

4th June 2008 2:41 PM   by Eric M. Zeman   updated Yesterday, 2:45 PM

Reuters is reporting that a source familiar with Verizon Wireless's plans says the company is in serious talks to acquire rural network operator Alltel. Alltel has about 13 million customers. Combined, the merged companies would have more than 80 million subscribers, vaulting it past AT&T, which is the current largest network operator in the U.S in terms of subscribers. The deal could be worth a reported $27 billion.

4th June 2008 2:30 PM   by Eric M. Zeman

Federal authorities in New York state have uncovered nearly 20,000 counterfeit phones that bare the brand names from most of the major handset manufacturers. The phones were seized in March from a company called Perfect Connection, located in Jamaica, N.Y. Among the faked handsets were 3,827 Motorolas, 5,249 Samsungs, 4,311 LGs, 798 Nokias and 5,503 Sony Ericssons. All of the phones appear to have been manufactured and imported from China. In connection, the authorities also found an unspecified number of faked Motorola universal cell phone chargers bearing the Underwriters Laboratory logo. The UL says the chargers have not been tested for safety and don't have the right to bear the UL logo.