North America increasingly is becoming one market, some say, and the recent extension of the relationship between VoiceStream and Microcell Telecommunications is evidence of that fact. Last week, VoiceStream took an interest in Microcell by buying a 15% stake of the outstanding equity securities—more than $274 million worth of Microcell stock. VoiceStream also will appoint two members to Microcell's board of directors.
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