Qwest in Wireless Pact with Sprint
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Debt-laden Qwest Communications International Inc. struck a deal to move its wireless phone customers onto Sprint Corp.’s national network, which would allow it to sell some related assets while still offering wireless services.
Under the deal with Sprint, Denver-based Qwest will offer Sprint PCS Vision under its own brand by next year to its local residential customers and to business customers nationwide. Qwest will handle sales, billing and customer service.
Terms were not disclosed.
Shares of Qwest rose 34 cents to $4.13, and Sprint PCS, Sprint’s wireless unit, fell 1 cent to $6.04, both on the NYSE.
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