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Verizon Asks FCC for More Time to Divest Alltel Assets

The recession is so severe that Verizon Communications Inc.(VZ) is having a hard time selling the $3 billion worth of assets it needs to divest to complete the Alltel Corp. acquisition.

To that end, Verizon has asked the FCC for 60 more days to sell its network holdings – including former Alltel subscribers – in 105 markets. The divestitures were to have been wrapped by May 9. But prospective buyers, Verizon says, are reluctant to buy while the economy struggles.

The FCC has yet to respond to Verizon’s request.


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