ATLANTA, GA -- (Marketwire) -- 10/19/09 -- King & Spalding, a leading international law firm, advised Sprint Nextel Corporation in its merger agreement to acquire its wireless affiliate iPCS, Inc., for approximately $831 million, including the assumption of $405 million of net debt.

Under terms of the agreement Sprint Nextel will begin a cash tender offer to acquire all of iPCS' outstanding common shares for $24.00 per share.

The acquisition extends Sprint's direct service territory to an additional 12.6 million people and adds more than 700,000 PCS wireless users and 270,000 wholesale customers as Sprint direct subscribers.

The transaction is subject to customary regulatory approvals and other customary closing conditions. It is expected to be completed either late in the fourth quarter of 2009 or early 2010.

This is the seventh transaction in which King & Spalding has represented Sprint in the acquisition of one of its PCS affiliates.

For more information on this transaction, click here: http://newsreleases.sprint.com/phoenix.zhtml?c=127149&p=irol-newsArticle_newsroom&ID=1343268.

The King & Spalding legal team representing Sprint Nextel in this transaction consisted of the following lawyers:

Corporate:                Jan G. Marsh
Michael J. Egan           (Consultant - Atlanta)
(Partner - Atlanta)
Anne M. Cox               Tax:
(Partner - Atlanta)       Robert G. Woodward
Adam M. Freiman           (Partner - Atlanta, New York)
(Partner - New York)      Augustus N. Makris
Amy Garvey Douglass       (Associate - Atlanta)
(Associate - Atlanta)
Terilyn D. Dumas          Antitrust:
(Associate - Atlanta)     Jeffrey S. Spigel
Christina R. Gibson       (Partner - Washington)
(Associate - Atlanta)     Brian R. Meiners
William S. Ledbetter      (Associate - Washington)
(Associate - Atlanta)
Jamie Norris Stainback    Business Litigation:
(Associate - Atlanta)     Daniel J. King
                          (Partner - Atlanta)
Employee benefits:        Shelby S. Guilbert
Donald S. Kohla           (Associate - Atlanta)
(Partner - Atlanta)

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Paris, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and, according to a Corporate Counsel survey in August 2009, ranks fifth in its total number of representations of those companies. For additional information, visit www.kslaw.com.