BERWYN, Pa.-SunCom Wireless Holdings Inc. said it has terminated its planned $113 million acquisition of wireless spectrum holder Urban Comm-North Carolina Inc. The deal was originally announced last October.
SunCom-then called Triton PCS-said it planned to purchase all of Urban Comm-North Carolina’s outstanding stock and assets that included 1.9 GHz spectrum licenses covering 7.4 million potential customers in parts of North Carolina, South Carolina and Virginia.
SunCom noted the termination stemmed from a market swap deal last December with Cingular Wireless L.L.C. that called for SunCom to give up its Virginia operations in exchange for Cingular’s assets in Puerto Rico and additional spectrum in North Carolina. SunCom said it did not make sense to purchase Urban Comm-North Carolina because a number of its spectrum licenses are in markets that are no longer part of SunCom’s operational focus.
Verizon Wireless announced earlier this year that it was acquiring 10 spectrum licenses from Urban Comm-North Carolina for $68.5 million. The licenses included 10-, 20- and 30-megahertz licenses in the 1.9 GHz band covering 3.9 million pops in North Carolina.
