CONSHOHOCKEN, Pa.—Sprint Nextel Corp. continued the work of reeling in its affiliates, as the national carrier closed on its acquisition of Nextel Partners and, just hours later, UbiquiTel Inc. stockholders approved Sprint Nextel’s purchase of the PCS affiliate.
UbiquiTel’s shareholders voted to sell the affiliate for $1.3 billion, including Sprint Nextel assuming about $300 million in net debt. The deal is expected to close promptly. UbiquiTel sold Sprint Nextel PCS service in the West and Midwest, with its network covering 10.8 million people in California, Idaho, Wyoming, Indiana, Utah, Kentucky, Nevada, Tennessee and Washington.
Sprint Nextel also wrapped up its $6.5 billion buyout of iDEN affiliate Nextel Partners, the largest of the company’s affiliates with about 2 million customers and a network covering 54 million POPs in 31 states.
“With this acquisition, and the expanded Nextel iDEN network footprint, we will be able to offer customers in Nextel Partners’ territories the full range of products and services more quickly and efficiently, and we will benefit from managing this part of our business under a consolidated organization and cost structure,” said Sprint Nextel Chief Executive Officer Gary Forsee.
Sprint Nextel indicated that it will leave all sales and customer service channels in place as it eventually transitions customers and support functions to its own systems.
