Sprint Starts Buying Up Affiliates Again
Apr 20, 2006, 12:44 PM by (staff)
Sprint Nextel today agreed to buy UbiquiTel, another of Sprint's affiliates whose exclusivity clause was threatened by the merger. Sprint Nextel has agreed to pay $1.3 billion for the affiliate, which has over half a million subscribers in 9 states. This purchase is seen as an indicator that Sprint Nextel will soon be announcing the purchase of many remaining affiliates. Sprint's forbearance agreements with Shenandoah PCS and other affiliates, which kept affiliates from suing Sprint or forcing them to buy affiliates out during negotiations are running out. Last week, at the end of their forbearance term, Shenandoah PCS announced that it has been unable to reach an agreement with Sprint Nextel and will likely force the carrier to buy it out.
More mony in my pocket...