In an apparent attempt to stave off competition from the Sprint/Clearwire/Google WiMax deal, verizon wireless today announced plans to buy Rural Cellular Corporation (Unicel) for a whopping $2.67 billion.

According to the companies, the acquisition will help expand Verizon Wireless' coverage in (of course) rural areas, increasing its customer base by more than 700,000.

"Verizon Wireless continually looks for opportunities to enhance our
customers' wireless experience," says Verizon Wireless CEO Lowell McAdam. "The addition of Rural Cellular's markets will enable us
to expand our services into areas where previously we had little or no
presence."

More here from InternetNews ... more here from BetaNews ... more here from Reuters ... more here from the AP ... and the press release is here.