Sprint wraps up iPCS acquisition, Nextel merger drama may finally be over
It's been eons since Sprint bought Nextel, but regional affiliate iPCS had managed to keep the fallout from the deal tied up in courts for years -- a side-effect of its claim that the merger violated Sprint's agreement to stay off iPCS' turf. After a few court losses, Sprint ultimately decided to bite the bullet and buy iPCS outright, and now, that deal's finalized to the tune of $831 million including Sprint's assumption of $405 million in debt. Though iPCS customers now become Sprint customers as a result of the acquisition, they'll effectively notice no difference -- the regional was already offering Sprint service exclusively under the Sprint brand, so this whole deal is little more than an escape hatch for the head office to tie off these legal wranglings once and for all.
