Sprint Nextel says it has received all regulatory approvals needed to complete the acquisition of affiliate carrier iPCS.
According to Sprint, the FCC approved the transfer of the spectrum license held by a subsidiary of iPCS on November 24. A day earlier, the Public Service Commission of West Virginia granted the joint petition of Sprint Nextel and iPCS for prior consent and approval of the acquisition and ownership of iPCS by Sprint Nextel.
No other state public service commission approval is required to satisfy the conditions to the tender offer. In addition, on Nov. 10 the Hart-Scott-Rodino waiting period applicable to the transaction expired.
Sprint’s $426 million buyout offer expires tonight. Following the completion of the tender offer and merger, iPCS will become a wholly-owned subsidiary of Sprint Nextel. Sprint anticipates that the acquisition will be completed in the fourth quarter of 2009.
The deal has put an end to a series of lawsuits filed by iPCS against Sprint alleging its parent company had engaged in multiple breaches of contract by selling competing services within iPCS’ territory. IPCS is just one of a series of affiliate carriers Sprint has been buying up over the past several years.