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Alltel announced it has agreed to be acquired by private equity partners Goldmann Sachs and TPG for $27.5 billion. Rumors surrounding the purchase of Alltel began as soon as the former Alltel split itself in two, with Windstream taking over the wireline assets and Alltel Wireless becoming an all wireless company. Alltel is the fifth largest wireless provider in the U.S., and serves primarily tier two and three markets.

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