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Nextel Acquires Spectrum, Plans New Service

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Aug 15, 2002, 10:34 AM   by (staff)

Nextel Communications yesterday said it is acquiring mobile radio systems operator NeoWorld Communications Inc. for approximately $270 million. The acquisition will give Nextel new wireless licenses in the top 12 U.S. markets, including New York, Chicago and Los Angeles. Nextel also said in its quarterly filing that it planned to test a new service in California and Nevada targeted at the youth market called Boost Mobile, in conjunction with Australian company Boost.

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