T-Mobile purchases SunCom
Posted by Joe P on December 11, 2007
There aren’t many details available on this one (we’d think that some major news outlets would have this at this hour, but alas…). T-Mobile USA has purchased SunCom Wireless Holdings Inc. for a reported $2.4 billion in cash and assumed debt. This furthers T-Mobile’s effort to surpass Sprint as the nation’s No. 3 wireless carrier. They have a ways to go, as they’re still 10 or 15 million subscribers behind Sprint. But with the way the tide is turning, we could see T-Mobile in the No. 3 slot by 2009.
The SunCom deal should put T-Mobile near the 30 million subscriber mark. This adds customers in the southeastern U.S., Puerto Rico, and the Virgin Islands.
Of course, the deal isn’t final yet. They never are at first, really. T-Mo is working hard, though, and are looking to have this deal approved by April.
[Philadelphia Business Journal]
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