Sprint Nextel agreed to a $4.3 billion purchase of Alamosa Holdings, the largest Sprint affiliate. Alamosa operates Sprint PCS service for nearly 1.5 million customers in 19 states. The acquisition is still subject to the approval of Alamosa shareholders and US regulatory approvals, but is expected to be completed in the first quarter of 2006.
"This acquisition closes a long partnership with the management and shareholders of Alamosa," said Gary Forsee, president and CEO, Sprint Nextel. "As the largest PCS affiliate, we appreciate their efforts over the years to grow Sprint's business and we look forward to continuing a strong relationship with their customers. This transaction will significantly expand our direct customer base and territory, and will provide additional value for our shareholders."