Sprint today agreed to buy its affiliate US Unwired for $1.3 billion. The acquisition is designed to stop US Unwired's legal opposition to Sprint's pending merger with Nextel Communications. US Unwired holders will receive $6.25 per share in cash. US Unwired last month asked a federal court to block the Sprint, Nextel merger. This agreement will end that litigation and clear the way for Sprint's end of the merger deal. US Unwired claims 500,000 subscribers and provides Sprint PCS wireless service in a nine-state area.
For more on Sprint's deal to buy US Unwired:
- read this press release
PLUS: Sprint will offer Good Technology's GoodLink wireless email and PIM service. Release