Sprint Nears Acquisition of Nextel
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Description: Sprint is about to acquire Nextel in a telecom merger that would create the nation&#39;s third-largest wireless company.
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Telecommunications giant Sprint Corp. is acquiring Nextel Communications Inc. in a &#36;35 billion deal that would create the nation's third largest wireless telephone service provider.
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Faced with growing pressure to upgrade their networks and compete with larger rivals, Sprint and Nextel Communications are poised to join forces in a $35 billion takeover that will give the combined entity a value of around $70 billion.
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America&#39;s third-largest mobile operator, Sprint, yesterday agreed to buy the fifth-largest, Nextel, in a well-flagged cash and shares deal worth $36.3billion (Â£19billion).
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Sprint agreed on Wednesday to buy Nextel Communications for about $35 billion, doubling its customers and bolstering its No. 3 position in the US wireless industry.
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Wireless provider Sprint Nextel Corp. said Wednesday it is acquiring affiliate Northern PCS in a deal worth $312.5 million.
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Sprint (FON:NYSE - news - research) chief Gary Forsee is billing the Nextel (NXTL:Nasdaq - news - research) deal as strength building on strength.
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Nextel Communications and Sprint Corp. reached a tentative agreement to merge, a deal that would create the nation&#39;s third-biggest cellular company, sources familiar with the deal said.
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Sprint and Nextel Communications have signed a merger agreement. The combined company, which will adopt the name Sprint Nextel, will serve nearly 40 million wireless customers.
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Dec. 15--NEW YORK -- Sprint Corp. announced Wednesday that it has agreed to acquire smaller mobile phone rival Nextel Communications Inc.
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Sprint and Nextel Communications could unveil their $36 billion merger within a few days, but speculation has intensified about the emergence of a rival bid.
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Sprint Corp. is close to an agreement to buy Nextel Communications Inc. for about $35 billion in a mostly stock deal that would combine the No.
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Well, it looks like things are getting a bit more interesting regarding the Sprint/Nextel deal. It seems that Vodafone, which owns 45% of Verizon Wireless in the US, is supporting a move by Verizon to potentially buy Sprint PCS.
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Sprint Corp. agreed to buy Nextel Communications Inc. for about $35 billion in a transaction that would leave three companies in control of 70 percent of the US mobile-telephone market.
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Verizon Communications Inc. VZ.N  has no imminent plans to bid for Sprint Corp. FON.N, people  familiar with the situation said on Tuesday, lifting a  potential obstacle to Sprint's bid for Nextel Communications  Inc. NXTL.O.
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The merger of Sprint Corp. and Nextel Communications, unveiled last week in a deal valued at more than $35 billion, is likely to spur deployment of broadband wireless services as three giant
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In todayâs Wall Street Journal is the news [paid subscription req.] that Sprint and Nextel are moving forward with the planned merger, despite a possible threat from #2 wireless carrier Verizon Wireless.