Sprint is reportedly in the final stages of acquiring Puerto Rican competitor Open Mobile, local media outlet News Is My Business reports. Citing two sources with knowledge of the transaction, the business website reports that the deal will be cashless, and likely involve a share offering from Sprint to Open Mobile’s owners. The merger is expected to close later this month, the sources added.
According to TeleGeography’s GlobalComms Database, Open Mobile (then known as New Comm Wireless) was awarded 15MHz of PCS-1900 spectrum by Puerto Rican telecoms watchdog the Telecommunications Regulatory Board (TRB) in 1998, and today operates island-wide 3G CDMA and 4G LTE networks. The cellco has been doing business as Open Mobile since 2007, when M/C Venture Partners and Columbia Capital acquired the company for USD160 million.