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Sprint Nextel Buys Affiliates to Ease Conflicts
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I guess that one way to deal with all of the tension is to buy out your affiliates. Well, that is the way Sprint does it anyway…
Sprint Nextel said yesterday that it would buy two small wireless affiliates, resolving legal issues arising from Sprint’s purchase of Nextel Communications, which operates in some of the same markets as the affiliates.
Sprint Nextel, an operator of mobile telephone service, will pay $427 million for IWO Holdings, including $208 million of assumed debt, and $287.5 million for Gulf Coast Wireless, including unspecified debt.
Analysts said Sprint Nextel could use the two deals to argue for a lower price if it was forced to buy another affiliated company, Nextel Partners. [Read the rest]