Sprint Near Deal to Buy Nextel for $34 Billion
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A merger between Sprint and Nextel would create a powerful new cellular competitor with some 39 million customers.
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Sprint Corp and Nextel Communications have tentatively agreed on key terms in a $US35 billion ($47billion) merger deal that would create a giant mobile phone carrier with nearly 39 million subscribers.
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Sprint Corp. on Wednesday agreed to  buy wireless telephone company Nextel Communications Inc. in a  cash and stock deal worth about $35.17 billion to gain more  business customers and more wireless airwaves to transmit  calls.
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The proposed $35 billion merger of Sprint Corp. and Nextel Communications Inc. would have little immediate effect on current customers of either company.
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Nextel and Sprint are in talks that could lead to a merger between the two mobile phone operators, sources close to the discussions said on Thursday.
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Sprint (FON:NYSE - news - research) and Nextel (NXTL:Nasdaq - news - research) confirmed a $35 billion merger Wednesday morning, going public with their definitive agreement despite reports that Verizon (VZ:NYSE - news - research) continues to weigh its
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Level 3 Communications (Quote, Chart) said it will pay $34 million cash for Sprint&#39;s (Quote, Chart) wholesale dial-up Internet access business.
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Sprint Corp. said Wednesday it would buy mobile telephone company Nextel Communications Inc. for about &#36;36 billion, creating a U.S. wireless carrier with nearly 40 million subscribers.
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Sprint Corp. appears to be on the verge of the boldest move of CEO Gary Forsee&#39;s 18-month tenure: A $36 billion merger with rival wireless company Nextel Communications Inc.
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Nextel Communications is in advanced talks to merge with the Sprint Corporation, a deal that would form the third largest cellphone company in the nation.
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NEW YORK - Sprint Corp. is buying Nextel Communications Inc. in a $35-billion US deal that will create the third-largest wireless phone company in the US.
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Sprint (FON:NYSE - news - research) and Nextel (NXTL:Nasdaq - news - research) confirmed their $35 billion merger Wednesday, setting ambitious plans for growth along with extensive cost-cutting.
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Sprint Corp. is close to an agreement to buy Nextel Communications Inc. for about &#36;35 billion in a mostly stock deal that would combine the No. 3 and No. 5 U.S. wireless telephone companies, sources familiar with the situation said on Friday.
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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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Nextel Communications is in advanced talks to merge with the Sprint Corporation, according to executives involved in the negotiations.
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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.
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Sprint and Nextel, two of the top five US mobile phone carriers, are negotiating a merger, say people close to the proposed deal. The combined company would be worth about $70bn.