Sprint Nextel (S) announced on Wednesday that it will acquire PCS spectrum and customers from US Cellular (USM). Shares of Sprint Nextel lost over 2.5% during the past trading week.
Shares of US Cellular lost more than 10% in the past trading days on the back of weak third quarter results, and the announcement of the deal.
The Deal
Sprint Nextel announced that it will acquire PCS spectrum and customers from US Cellular in parts of Illinois, Indiana, Michigan, Missouri and Ohio. The deal values the assets at roughly $480 million in cash and the assumption of certain liabilities.
Read the entire article on Seekingalpha by clicking the following link
No comments:
Post a Comment