Item 8.01. Other Events.

Verizon Communications Inc. stated that Cellco Partnership doing business as Verizon Wireless ("Verizon Wireless") is on track to receive its remaining regulatory and court approvals to close its pending acquisition of Alltel Corporation, and currently expects that the Alltel acquisition will close in early to mid-January of 2009.

Verizon Wireless has also received commitments from eight financial institutions to provide $17 billion of financing for the Alltel acquisition. The commitments are subject to the preparation and execution of definitive documentation, concurrent closing of the Alltel acquisition, absence of a material adverse change in the business of Verizon Wireless or Alltel and certain other conditions. There can be no assurance that these conditions will be met, or that Verizon Wireless will enter into this financing. Assuming all conditions are satisfied and Verizon Wireless enters into this financing, Verizon Wireless believes that it will have sufficient capital to fund the Alltel acquisition.

NOTE: This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: materially adverse changes in economic and industry conditions and labor matters, including workforce levels and labor negotiations, and any resulting financial and/or operational impact, in the markets served by us or by companies in which we have substantial investments; material changes in available technology, including disruption of our suppliers' provisioning of critical products or services; the impact of natural or man-made disasters or litigation and any resulting financial impact not covered by insurance; technology substitution; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets impacting the cost, including interest rates, and/or availability of financing; the final results of federal and state regulatory proceedings concerning our provision of retail and wholesale services and judicial review of those results; the effects of competition in our markets; the timing, scope and financial impact of our deployment of fiber-to-the-premises broadband technology; the ability of Verizon Wireless to continue to obtain sufficient spectrum resources; changes in our accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; and the ability to complete acquisitions and dispositions.

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