Sprint to Acquire Another Nextel Affiliate

5:30 am on April 21, 2006 | Category: Business, Corporate, Law

business/sprint.jpg

America’s number three wireless carrier, Sprint Nextel, revealed yesterday that it plans to purchase affiliate company, UbiquiTel Inc., at a cost of about $1 billion.

Sprint has agreed to pay $10.35/share for the company, which represents a slight premium over its current share price. This quick cash deal will likely be completed by the end of the second quarter, and will extend Sprint’s cell phone service to another 8.3 million customers.

This is just the latest of a string of affiliates that Sprint has been forced to buy for legal reasons, after its acquisition of Nextel last year.

Related Articles:

    None Found

    No Comments yet »

    RSS feed for comments on this post.

    Leave a comment

    XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


    Published by TeleClick Enterprises
    Edited by Jeremy Maddock