Nextel Partners Drops Suit Against Nextel
Jul 28, 2005, 1:14 PM by (staff)
Nextel Partners announced they have dropped their lawsuit against Nextel while also announcing a record quarter of subscriber adds for the affiliate. The company said it would now enter arbitration to settle it's disagreement with Nextel. Nextel Partners was suing Nextel claiming the carrier had undervalued the affiliate when reporting its financials for the merger with Sprint. This valuation would affect both the Nextel Partners' current performance on the market as well as a price Nextel might buy the affiliate for after the merger. Nextel Partners was seeking an injunction on the merger until the two could come to an agreement.
Comments
there's 2 more lawsuits - ipcs and ubiquitel, and one more government hurdle. but nextel partners *could* try to re-start their suit against nextel, but theirs is the most frivolous.
they basicall...
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