Alltel stock climbed 3.72% to $60.48 last week, giving the company a $22.6bn market value. Its big attraction is a low level of debt after it became a pure-play wireless operator in December 2005 after spinning out its wireline business and merging it with Valor Communications Group Inc in a deal worth $9.1bn.
The interest could also tempt other telecoms operators looking to extend their footprint into the fray, and Sprint Nextel Corp and Verizon Wireless have been tipped as potential buyers.
Alltel is the fifth largest US wireless operator with 11 million customers in 35 states.
