Sprint Nextel today announced a deal to buy affiliate Enterprise Communications, a Sprint PCS affiliate that serves 52,000 customers in Alabama and Georgia. The sale is valued at $98 million, including assumption of debt. Sprint noted the buyout should close in the first quarter of 2006 and is still subject to approval.
Additionally, Sprint Nextel will pay $2 million to purchase licenses for C Block wireless spectrum from an affiliate of Enterprise Communications.
Sprint Nextel announced another buyout today, Velocita Wireless.