Verizon Wireless is close to scaling a roughly $27 bn deal to buy rural mobile service provider Alltel Corp, aiming to overtake AT&T Inc as the top US wireless service. As part of the deal, Verizon would take on about $23 bn of Alltel debt, which was incurred a part of the leveraged buyout of the small wireless company by private equity firms TPG Capital and GS Capital Partners last November. GS Capital is a unit of Goldman Sachs. TPG GS Capital just seven months before had bought Alltel for $71.50 per share, or a total of $27.5 bn including the debt Alltel had on its balance sheet before the deal.
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