A Verizon official tells Talk Business that the company has "no comment" at this time.  Alltel officials have also indicated that they have "no comment" on the rumor.

CNBC reported around 1:30 today that Verizon, the second largest wireless carrier in the U.S., is deep in talks to acquire Alltel, the nation's fifth largest wireless carrier, for roughly $27 billion.  CNBC reporter David Faber cites sources close to the negotiations.

It was last April when Alltel announced a $27.5 billion private equity deal with TPG and Goldman Sachs.  CNBC says that its sources report that Alltel has increased its earnings before interest, taxes, depreciation and amortization (EBITDA) by 10% since the leveraged buyout was announced last May.

Sources also told CNBC that the sponsors are willing to sell only six months after they closed the deal because they'll get a slight premium to their equity investment, and there is a broad desire within private equity these days to generate a return when one is available.

ANOTHER UPDATE:  Jeffrey Bartash with MarketWatch files this report.

Talk Business will continue to update this story throughout the day.