Verizon Wireless is aiming for completion of its acquisitions of smaller rivals Rural Cellular and Alltel by the end of this year. Currently the second-largest operator in the US, Verizon Wireless learnt this week it must sell assets in six markets in Vermont, New York and Washington state to complete its US$757 million acquisition of Rural Cellular. According to Forbes, the assets to be sold include transmission equipment and wireless spectrum and are necessary in order to preserve competition throughout the markets. Announced last July, the acquisition is valued at US$2.67 billion when Rural Cellular’s debt – which Verizon Wireless will assume – is included, and is aimed at enabling Verizon to expand its coverage and save roaming fees.

Meanwhile, Verizon Wireless plans to close its US$28.1 billion acquisition of Alltel, announced last week, by the end of the year. Reports suggest this is an ambitious goal, but Verizon Communications president and COO Dennis Strigl told a conference call yesterday it is a realistic target and cited AT&T’s closing of Dobson Communications and the original deal to take Alltel private. “We think it’s doable,” he said. “The precedent has been set.”