Trio of firms act on multi-billion dollar Alltel sell-off

A trio of US firms has scooped lead roles advising Verizon Wireless on its $28.1bn (£14.3bn) acquisition of network operator Alltel.

Debevoise & Plimpton partner Jeffrey Rosen led the team advising Verizon Wireless while Cleary Gottlieb Steen & Hamilton partners Benet O’Reilly and Paul Shim led a team advising Alltel’s owners – private equity house TPG and Goldman Sachs.

Milbank Tweed Hadley & McCloy partner Blair Tyson advised Morgan Stanley on the multi-billion dollar bridge financing for the transaction.

The deal comes just one year after TPG and Goldman Sachs acquired Alltel in a $27.5bn (£13.99bn) deal.

The acquisition puts Verizon’s wireless business ahead of previous US market leaders AT&T.

Cleary Gottlieb, Debevoise & Plimpton and Milbank Tweed were unavailable for comment.