Sprint Nextel agreed on Thursday to buy its Conshohocken, Pa., affiliate UbiquiTel Inc. for about $1.3 billion to add 8.3 million people to its subscriber base. Reston, Va.-based Sprint, the third-largest wireless operator in the United States, said in a statement it would pay $10.35 in cash for each UbiquiTel share and assume about $300 million in debt. During the past year, Sprint has been busy buying up its affiliates and will have only a handful left once the UbiquiTel deal closes.
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Posted on Friday, April 21st, 2006. Filed under: Law Misc, Legal Technology
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