Sprint Nextel Corp. Wednesday said it agreed to acquire spectrum and business operations in parts of five states from U.S. Cellular Corp. for about $480 million, in a deal that will significantly increase the company’s network capacity.
Sprint Chief Executive Dan Hesse said the deal includes several important Midwest markets such as Chicago and St. Louis. The transaction involves 585,000 U.S. Cellular customers in Illinois, Indiana, Missouri and Ohio.
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