Sprint Affiliates Merging

iPCS and Horizon PCS set a merger.
By TSC Staff ,

A pair of pink-sheets-traded

Sprint

(FON)

affiliates set plans Thursday to link up, continuing the wireless telecom industry's consolidation trend.

iPCS

(IPCX)

and

Horizon PCS

(HZPS)

said they would combine in a merger creating a company with an aggregate market capitalization of $500 million.

iPCS holds the exclusive right to sell Sprint-branded products and services in 40 markets in Illinois, Michigan, Iowa and eastern Nebraska. Horizon holds Sprint-branded rights in 11 contiguous states between Sprint's Chicago, New York and Knoxville markets. Together the companies will serve markets populated by some 15 million people.

The deal comes a month after two larger Sprint affiliates,

Alamosa

(APCS)

and AirGate, merged in a $350 million cash-and-stock deal. Meanwhile Sprint is due to merge with

Nextel

(NXTL)

in a transaction expected to close later this year.

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