Sprint Nextel may buy two affiliates
A Reuters newswire article, via Yahoo! News, reports that:
Sprint Nextel Corp. is close to buying two of its small wireless affiliates for a combined price of about $700 million, the Wall Street Journal reported on Tuesday.
Citing people familiar with the situation, the newspaper said the third largest U.S. wireless company was near to a purchase agreement with IWO Holdings Inc., an Albany, New York wireless operator with 237,000 subscribers, for about $400 million.
It also was close to a $288 million acquisition of Gulf Coast Wireless, a closely held company based in Baton Rouge, Louisiana, with some 93,000 subscribers, the Journal said.
There was no immediate comment on the report from any of the companies involved.
Sprint Nextel's 11 affiliated companies have deals to use the Sprint or Nextel brand names and airwaves to sell wireless-phone service.
posted by Fergie @ 8/30/2005 06:22:00 AM
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