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Article: U.S. wireless giant Sprint Nextel to buy affiliate in deal valued at $6.5 billion
- Article from:
- AP Worldstream
- Article date:
- December 20, 2005
- Author:
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MARGARET STAFFORD, Associated Press Writer.
AP Worldstream
12-20-2005
Dateline: KANSAS CITY, Missouri
Sprint Nextel Corp. said Tuesday that it would buy outstanding shares of Nextel Partners Inc. in a deal valued at $6.5 billion (euro5.4 billion), or $28.50 per share, settling a legal battle with its largest affiliate.
Nextel Partners shareholders had approved a provision in October that required Sprint Nextel to buy two-thirds of the company it doesn't already own. Including the one-third shares that Sprint Nextel already owns in the affiliate, the deal puts the value of Nextel Partners at about $10 billion (euro8.3 billion).
After Sprint Corp. acquired Nextel in August for $35 billion ...