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.