Sprint Nextel Completes Acquisition of Nextel Partners
June 26th, 2006
Sprint announced today they have completed the acquisition of Nextel Partners for $6.5 billion. The Nextel Partners class A common stock sold for $28.50 per share. With the acquisition, Sprint Nextel has approximately 51 million wireless subscribers, based on first quarter 2006 reporting.
The acquisition of Nextel Partners marks another important milestone as Sprint Nextel executes our vision of converging our unique wireless and Internet wireline assets to create an entirely new suite of mobility and IP-based products and services for our customers. 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.
The acquisition will be seamless for Nextel Partners’ subscribers and all existing sales and customer service channels will remain in place as Sprint Nextel executes a plan to gradually integrate those subscribers and support functions into its existing operations.
