Verizon Retains Morgan Stanley for Divestiture

Posted by Kallan Dahn Thursday, August 28, 2008

Part of the conditions to move forward with the Merger with Alltel Wireless state Verizon must divest 85 overlapping markets in the United States. Verizon has reportedly retained Morgan Stanely for teh divestment. Morgan Stanley has valued the assets to be divested between $3 Billion and $4 Billion. Potential purchasers were required to submit a proposal to Morgan Stanley by August 22nd. There has been interest in the purchase, but no one has offered a price to Verizon for their assets as of yet.

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