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. Last Updated: 07/27/2016

Wireless Telecom Deal

NEW YORK -- The Voicestream Wireless Corp. and Omnipoint Corp., two U.S. regional wireless communications companies seeking to expand their national presence, said they would merge in a cash and stock transaction valued at nearly $3 billion.

The merger will provide the new company with coverage of a far broader swath of the country than either company has alone, with licenses in 17 of the top 25 major wireless markets. The combined company would provide service to more than a million customers.

Following the merger, Voicestream will be the country's largest provider of wireless service using the technology known as GSM, or Global System for Mobile Communications.