MetroPCS Scores Cash for Dallas, Detroit Buildouts
Oct 5, 2005, 1:30 PM by (staff)
Two private equity firms - Madison Dearborn Partners and TA Associates - today announced that they are each contributing $300 million toward a $739 million minority equity investment in MetroPCS. The cash infusion will fund new networks covering the Dallas and Detroit areas. MetroPCS bought 10 MHz of spectrum covering each of those cities from Cingular for $230 million in November 2004. Cingular was required by the government to sell the spectrum as a condition of its merger with AT&T Wireless. Separately, MetroPCS today started selling the new Nokia 6235, a small bar-style camera phone.
source: TA Associates / Madison Dearborn Partners
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Comments
Detroit... who knows what they're thinking. Detroit is barely a metro area now less than a million people and higher than normal poverty rate as well.
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