Cell-phone service provider MetroPCS can finally do business in its hometown. On Monday, the Dallas-based company agreed to pay $230 million for Cingular Wireless spectrum, the lifeblood of wireless services. That price tag covered spectrum in both Dallas and Detroit. A MetroPCS representative confirmed the carrier's plans to do business in the two markets but wouldn't comment further. The carrier has more than a million subscribers in parts of Florida, Northern California and Georgia.
Recently, Cingular Wireless struck a deal to sell some assets to telephone operator Alltel for $170 million in cash. The sale satisfies requirements that the Justice Department and Federal Communications Commission set in order for Cingular Wireless to. At 46 million subscribers, the combined entity surpasses Verizon Wireless as the largest U.S. carrier.