Sprint Nextel will pay $312.5 million to acquire affiliate Northe...
Sprint Nextel will pay $312.5 million to acquire affiliate Northern PCS, Sprint said Wed. The price includes debt assumption. The purchase will be the 7th of Sprint’s 10 former PCS affiliates that it has acquired. Sprint has affiliate agreements…
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with 2, Shentel and Swifttel, and is in a legal dispute with the other, iPCS. The company also recently bought former Nextel partners. Sprint expects to complete the acquisition in Q3 2007, subject to state approval. As with previous PCS buys, the FCC will not likely be involved, a Sprint spokesman said. Financial analyst firm Standard & Poor’s said its ratings and outlook for Sprint Nextel are unaffected: “Given the size of the transaction, there will not be any meaningful impact on leverage.”