Verizon Wireless to buy Qwest assets

Jul 01 2004 - 05:24 PM ET | Verizon Wireless
Verizon Wireless went on a $418 shopping spree and agreed to purchase rival Qwest's assets. Included in the deal are spectrum licenses in 62 markets in 14 western and mid-western states that cover a population of 30.8 million people. Other goodies are, network switching centers, cell sites and related network equipment. The deal needs regulatory approval, but it is expected to go through this year.