IPCS, Units Enter Forbearance Pact With Sprint Corp"

WASHINGTON -(Dow Jones)- IPCS Inc. (IPCX) disclosed Friday that it, along with its Horizon Personal Communications and Bright Personal Communications units, entered a forbearance agreement with Sprint Corp. (FON) related to ongoing litigation among the parties in Delaware and Illinois.

As reported, both IPCS and its units filed lawsuits against Sprint and Nextel Communications Inc. (NXTL) alleging that their pending merger will violate certain exclusivity obligations that the company and its units have in place under long-term contracts.

The company said in a document filed with the Securities and Exchange Commission that the forbearance pact calls for IPCS and its units not to seek injunctive relief under certain circumstances and contemplates the parties proceeding directly to a trial relating to requests for a permanent injunction and other equitable relief.

The agreement also sets forth Sprint's agreement of the parameters for the operation of its wireless business in the territories operated by IPCS following the merger and during the period of time that the agreement remains in effect.

-By Chad Clinton, Dow Jones Newswires; 202-862-1349; chad.clinton@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 29th July 2005