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Verizon Wireless Snaps Up Qwest Spectrum, Network

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Jul 1, 2004, 5:42 PM   by (staff)

Qwest and Verizon Wireless today announced an agreement for Verizon Wireless to purchase all of Qwest's current wireless network equipment and spectrum. The $418 million cash deal includes 62 major markets spanning 14 states. Qwest will keep its customers, and continue to offer wireless service via Sprint's network. The deal will allow Verizon to offer service for the first time in Rochester and St. Cloud, MN; Lincoln, NE; and Longview, WA. In the remaining areas, the assets will be used to enhance existing service and add capacity. The transaction is expected to close in the fourth quarter of this year or early 2005.

more info at Verizon Wireless »
more info at Qwest »



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