Sprint acquiring iPCS
 

Sprint acquiring iPCS


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Sprint/Nextel announced this morning that they will be acquiring their affiliate iPCS for $831 million, including the assumption of $405 million of debt. This is really good news for those that live in an iPCS market because there has been lots of tension between Sprint/Nextel and iPCS over the years, especially after the merger with Nextel.
According to Sprint, the benefits of this transaction include:

• More than 700,000 PCS Wireless Users and 270,000 Wholesale Customers to Become Sprint Direct Subscribers
• Extends Companys Direct Service Territory to an Additional 12.6 Million People
• Sprint Ends Plan to Divest iDEN Network Assets in Certain Midwestern States Pending Transaction Close

More information at the Sprint Newsroom.