Sprint sees Nextel write-off of up to $31 billion
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Sprint Nextel Corp  said on  Thursday that it might have to write off all of the $30.7  billion goodwill value from its purchase of Nextel  Communications and smaller deals as it struggles with customer  losses.
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Sprint Corp. FON.N on Wednesday  agreed to buy mobile telephone company Nextel Communications  Inc. NXTL.O in a deal worth $35.17 billion to gain more  business customers and more airwaves to transmit calls.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it will cut about 4,000 jobs and close about 8 percent of its stores, predicting further pressure on its ability to attract subscribers and turn a profit in 2008.
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As part of its effort to turn its fortunes around, wireless phone company Sprint Nextel announced today that it would "streamline its business" by cutting 4,000 jobs and closing 8 percent of its stores. The company, third among U.S. mobile phone services, has been battling against a continual loss of subscribers.
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NEW YORK - Just two months after the announcement that Cingular Wireless will acquire AT&amp;T Wireless, Sprint has announced that it plans to buy Nextel Communications for $35 billion.
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No. 3 U.S. mobile service provider Sprint Nextel Corp is expected to offer flat-rate calling plans at up to a 40 percent discount to its rivals, hurtling the industry into a price war, analysts said on Wednesday.
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Although a Sprint-Nextel combination is being characterized as a $36 billion merger of equals, published reports describe the emerging transaction as a purchase by Sprint.
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Wireless telephone company Nextel Communications confirmed Wednesday it is being bought by rival Sprint in a cash and stock deal said to be worth more than $35-billion US.
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Sprint has agreed to buy mobile telephone company Nextel Communications in a deal worth $35.17 billion, combining the No. 3 and No. 5 U.S. wireless carriers and creating a new company with about 40 million customers.
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Sprint Nextel said yesterday it will acquire affiliate Northern PCS in a deal worth $312.5 million, the seventh such purchase for the wireless company in the past two years.
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Sprint - the US&#39;s third biggest mobile telco - and fifth-place rival Nextel are reportedly in talks about a possible merger. The deal would create a carrier with approximately 39m subscribers and a market value of around $70bn.
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NEW YORK/WASHINGTON  - Sprint Corp. said Wednesday  it would buy mobile telephone company Nextel Communications  Inc. for about $36 billion, creating a U.S. wireless carrier  with nearly 40 million subscribers.
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WASHINGTON  - US mobile telephone groups Sprint and Nextel are engaged in merger talks which could create the third-biggest US mobile operator worth some 30 billion dollars, according to reports.
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SPRINT and Nextel Communications are expected early this week to announce a $70 billion (Â£36 billion) telecoms merger that will create Americaâs third-largest mobile-phone company, with 39m customers.
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Sprint Nextel Corp  said on Thursday it will take a material goodwill impairment charge representing a substantial portion, and potentially all, of the $31 billion goodwill on its balance sheet.
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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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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.