(Updates with additional executive comments starting in the ninth paragraph.)

By Roger Cheng

Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- Verizon Wireless's acquisition of Alltel Corp. (NYSE:AT) (AT) isn't a "game-changer" that will throw the carrier off, said Verizon Communications Inc. (NYSE:VZ) (VZ) President and Chief Operating Officer Dennis Strigl in a conference call Tuesday.

Alltel (NYSE:AT) represents a good fit for Verizon Wireless, and Strigl said Verizon (NYSE:VZ) has had an eye on the rural carrier for years.

Verizon Wireless plans to close the deal by the end of the year, an ambitious goal since deals can typically take six months before they can close. Strigl said it is a realistic goal, and cited AT&T Inc.'s (NYSE:T) (T) closing of Dobson Communications, and the original deal to take Alltel (NYSE:AT) private.

"We think it's doable," he said. "The precedent has been set."

The company has the potential to improve the metrics at Alltel (NYSE:AT) . Strigl said there is the opportunity to lower customer turnover by 40 basis points and increase average monthly data revenue by $3 - Verizon Wireless's current levels - over the next two years.

"You won't see it overnight," he said. "But it's realistic to think about the transition in those two areas and others in the course of two years."

On the Apple Inc. (NASDAQ-NMS:AAPL) (AAPL) iPhone, Strigl noted Verizon Wireless has benefited from higher interest and sales in smartphones. The company has sold more smartphones since the iPhone debuted last June.

Strigl also shook off the threat poised by rival high-speed wireless technology WiMax, saying he isn't concerned about the current deployment.

"I don't lose a minute of sleep over WiMax," he said.

On unlimited phone plans, Strigl said there was initial concern on damage to margins, but the $99 flat rate plans have helped win over and keep high-value customers. He said it was too early to tell if it would have an adverse impact on access lines, with people dropping their landline in favor of just wireless.

On FiOS, Strigl addressed concerns that Verizon (NYSE:VZ) was building in AT&T's (NYSE:T) geographical territory, saying the company plans to stay within its own territory.

"We have enough to do within our own franchise footprint," he said. "We don't need to seek out those opportunities."

Strigl noted that Verizon (NYSE:VZ) had gone away from pushing traditional DSL, and that the company intends to emphasize the service more. A majority of the high-speed Internet customer additions in the first quarter came from FiOS.

But, he pointed out, "We haven't abandoned (DSL)."

-By Roger Cheng, Dow Jones Newswires; 201-938-2020; roger.cheng@dowjones.com

    (END) Dow Jones Newswires   06-10-08 1419   Copyright (c) 2008 Dow Jones & Company, Inc.