Vodafone Group's Verizon Wireless unit is in advanced talks to buy wireless carrier Alltel Corp, according to a report.

The deal would be worth $27 billion to create the largest U.S. mobile phone company, people familiar with the matter told the Wall Street Journal.

All tell was recently sold to private equity group TPG Capital and a division of Goldman Sachs Group for $27.5 billion, including debt.

Investment Goldman sachs