Sprint Nextel Corp. (NYSE:S) fell into its new $3.1 billion cash hoard on Wednesday in order to purchase a clump of U.S. Cellular Corp.’s wireless business and its subscribers in the Midwest. The $480 million deal covers 585,000 customers of U.S. Cellular in parts of five states. The territory will incude St. Louis and Chicago, and Analysts claim that the deal made sense for Sprint, also getting additional wireless spectrum. Spectrum is the licensed airwaves are necessary for cellular networks to carry their customers’ phone calls, text messages, and data. This is Sprint’s first deal since raising $3.1 billion from Tokyo-based SoftBank Corp., which agreed to purchase a 70 percent stake in Sprint for $20.1 billion.
Vodafone Group plc (NASDAQ:VOD): Today, Vodafone India stated that it has joined hands with ICICI Bank to launch a mobile money transfer and payment service. “Vodafone India through its 100 percent subsidiary Mobile Commerce Solutions and ICICI Bank have finalised plans to launch mobile payment services this year, under the brand name `m-pesa’. The offering will comprise a mobile money account with ICICI Bank and a Mobile Wallet issued by MCSL,” the companies claimed via a joint statement. The service is to be launched initially in the eastern region, including West Bengal, Bihar, and Jharkhand, and then he rolled out in elsewhere in phases.
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MetroPCS Communications, Inc. (NYSE:PCS): According to Deutsche Telekom CEO, MetroPCS shareholders will vote on merger in Q1
Frontier Communications Corporation (NYSE:FTR): The West Virginia Public Service Commission granted release of $29.1 million to Frontier Communications from two separate escrow accounts. Frontier requested to be released from the West Virginia PSC for $23.7 million from a service quality escrow account and another $5.4 million from a broadband escrow account, stated Dana Waldo, who is the senior vice president and general manager. The PSC granted Frontier’s requests in full.
Juniper Networks, Inc. (NYSE:JNPR) stated that that Terra, which is a leading global digital media company that reaches a monthly audience of about 100 million with entertainment, sports, and news content, chose Juniper Networks QFabric architecture for a data center network scaling with simplicity to assist in meeting growing consumer demand for online media.
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