agreed to acquire an additional stake in the
Sacramento Valley L.P.
, which provides wireless communications services in portions of Northern California and Nevada under the Verizon Wireless brand.
Verizon Wireless will pay
about $236 million for a 24.2% interest in the partnership, representing about 920,000 net POPs, or population served. After closing the transaction, which is expected by Nov. 1, Verizon will own 76.6% of the partnership. The remaining stake is owned by
Verizon Wireless was formed by the combination of the U.S. wireless businesses of