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RESTON, Va. (AP) - Wireless provider Sprint Nextel Corp. said Wednesday it is acquiring affiliate Northern PCS in a deal worth $312.5 million.
Northern PCS, based in Waite Park, Minn., serves more than 236,000 Sprint Nextel subscribers in parts of Minnesota, North Dakota, Wisconsin and Iowa.
Sprint Nextel, based in Reston, Va., with operational headquarters in Overland Park, Kan., will pay $307.2 million and assume $5.3 million in debt, said spokesman James Fisher. The deal, which still requires regulatory approval, is expected to close in the third quarter of this year.
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