BELLEVUE, Wash.-Voice-Stream Wireless Corp. reported closing its merger with Aerial Communications Inc.
As a result of the merger, Aerial shareholders will receive 0.455 of a VoiceStream common share for each Aerial common share, or they may choose a cash option.
“The combination of Voice-Stream Wireless and Aerial Communications is an important step in the creation of the leading nationwide provider of wireless telecommunications services using the [Global System for Mobile communications] standard,” said John Stanton, chairman and chief executive officer of VoiceStream.
VoiceStream also announced the acceptance by VoiceStream Subsidiary IV Corp. of all series A zero coupon notes due 2006 and series B zero coupon notes due 2008 of Aerial Communications.
According to VoiceStream, the purpose of the transaction is to facilitate a reorganization and financial restructuring of VoiceStream and its affiliates, including the merger of Aerial into a subsidiary of VoiceStream.
