AirGate, iPCS agree to merge operations

ATLANTA—Sprint Network Partners AirGate PCS Inc. and iPCS Inc. have agreed to merge their operations in a deal valued at nearly $900 million.
The deal calls for AirGate to issue 13.5 million common shares to iPCS and assume $97 million of iPCS debt. The combined carrier will serve 286,000 customers in the upper Midwest and Southeast.