Sprint Nextel Closes Two Affiliate Buyouts
Jun 27, 2006, 1:19 PM by (staff)
Sprint Nextel yesterday closed their buyout of Nextel Partners, after regulators approved the transaction last week. The carrier paid $6.5 billion for the remaining shares of the Nextel affiliate. In December, the two factions had agreed Nextel Partners was worth $9.2 billion and that Sprint would pay cash for the remaining 69% of the affiliate it did not own. UbiquiTel shareholders yesterday also accepted Sprint's offer of $1.3 billion for their affiliate. That deal is expected to close quickly.
Sprint Settles Lawsuit Over Nextel Merger for $131 Million
Sprint today settled a class-action lawsuit regarding its 2005 acquisition of Nextel for $131 million. Investors claim Sprint executives defrauded shareholders by inflating stock and bond prices after Sprint closed its acquisition of Nextel.
AT&T Finalizes Nextel Mexico Acquisition
AT&T today said it has completed its acquisition of Nextel Mexico. Nextel Mexico covers 76 million customers across the country.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
AT&T Rebranding Mexico's Iusacell and Nextel to AT&T
AT&T has begun rebranding its Iusacell and Nextel properties in Mexico under the AT&T name. Moving forward, people who visit Iusacell and Nextel stores will be buying AT&T Unidos service plans (Unidos con Todo and Unidos a tu Manera, respectively).