U.S.‘s fifth largest mobile carrier Alltel’s shareholders overwhelmingly approved a $24.7 billion buyout by two private equity firm. CEO Scott Ford presided over the two-minute meeting, which he described as “our final shareholders meeting”, reports AP. The buyout must still be approved by the Federal Communications Commission. The sale to TPG Capital and GS Capital Partners should close by the end of the year.

• Alltel Being Bought By Private Equity Firms TPG, Goldman For $27.5 Billion