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Federal regulatory authority FCC (Federal Communication Commission) has approved the Verizon Wireless’ purchase of Altel Corp. The deal will cost $28 billion but the prior will be paying only $5.9 billion assuming the Altel’s debt of $22.2 billion. The current approval comes with several conditions such a the buyer has to maintain the existing agreements of Altel Corp. for four years.
[via Yahoo! Tech]

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