Sprint buying some US Cellular markets for $480M
OVERLAND PARK, Kan.– Sprint is buying U.S. Cellular markets in the Midwest for $480 million to boost its network capacity in that region.
Sprint Nextel Corp., the third-largest U.S. cellphone carrier, said Wednesday that it is buying spectrum and 585,000 customers in Illinois, Indiana, Michigan, Missouri and Ohio. That covers about 10 percent of U.S. Cellular's customer base and includes its key Chicago and St. Louis markets.
The acquisition should give a needed boost to the Overland Park, Kan.-based company's network. Sprint doesn't have as much available spectrum, or space on the airwaves, as the larger carriers do. That holds back its network speeds somewhat.
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