Sprint eyeing Puerto Rico tie-up with Open Mobile
Sprint is looking to acquire mobile operator Open Mobile in Puerto Rico in a cashless deal, according to local media reports.
The SoftBank-owned operator is locked in negotiations with Open Mobile owner Open Carrier, with a deal expected to be struck by March, according to News is My Business.
The acquisition would allow Sprint to strengthen its network in the Caribbean island by integrating Open Mobile’s CDMA and LTE networks into its own.
Open Mobile also has an Eligible Telecommunications Carrier (ETC) certification, something Sprint is without in Puerto Rico, opening more market opportunities for Sprint.
ETC is required to sell to the market that qualifies for Lifeline subsidies, and this segment is growing in a stagnating mobile market, according to the news outlet.
Open Mobile was launched in 2007 as a joint venture between Columbia Capital and M/C Venture Partners, who bought the former MoviStar arm for $160 million.
Sprint and Open Mobile declined to comment to the reports.