ATLANTA-Sprint PCS affiliate AirGate PCS Inc. said it received consent from Sprint for the change of control that will occur upon completion of AirGate’s pending acquisition by fellow affiliate Alamosa Holdings Inc. The pending acquisition was originally announced last December and calls for Alamosa to acquire AirGate for approximately $670 million in stock and debt assumption.
AirGate noted that the consent was one of the conditions needed prior to the closing of the deal, which is expected to happen later this year, and it has scheduled a meeting of its shareholders on Feb. 15 to vote on the adoption of the agreement. Sprint PCS has traditionally not stood in the way of consolidation among its affiliates, which analysts predict is likely to continue in the near future.
AirGate currently serves approximately 384,000 subscribers using the Sprint PCS brand name in South Carolina, North Carolina and Georgia.
