Sprint Nextel to Acquire Affiliate iPCS
By: Matthew Pankey October 19th, 2009
Today Sprint Nextel and its affiliate iPCS announced that Sprint will buy iPCS for the cool price of $831 million. As part of the acquisition agreement, both parties have agreed to close all pending litigation between them (iPCS has sued Sprint for a number of reasons, mostly citing breach of contract). The deal also puts a halt to Sprint’s planned divestitures of its iDEN network in regions where iPCS operates. Of course this deal is subject to regulatory approval and should be completed later this year or early 2010.
Update: Apparently iPCS shareholders are not going down without a fight.
Filed Under: Sprint News
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