Sprint Nextel Agrees to Buy Texas Affiliate

[SOURCE: Washington Post, AUTHOR: Arshad Mohammed]
Sprint Nextel yesterday agreed to pay $3.4 billion for Alamosa Holdings, a Texas company that offers Sprint's mobile phone service to 1.5 million subscribers in 19 states. The deal, which includes assuming $900 million in Alamosa's debt, helped lift shares of Nextel Partners, a Nextel affiliate that is in the process of being bought out by Reston-based Sprint Nextel. Christopher C. King, a senior analyst at Legg Mason Wood Walker, said he estimated that Nextel Partners revenue would rise by 20 to 30 percent next year -- faster than Alamosa's likely increase and worthy of a premium price.
http://www.washingtonpost.com/wp-dyn/content/article/2005/11/21/AR2005112101422.html
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