Sprint and Nextel Announce Merger
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Today Sprint and Nextel Communications announced that their respective boards of directors have approved a merger agreement. The new entity, to be named Sprint Nextel, plans to spin off the existing Sprint land line business after the merger is completed.
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WASHINGTON - Nextel Communications Inc. and Sprint Corp. reached a tentative agreement to merge, a deal that would create the nationâs third-largest cellular company.
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The proposed $35 billion merger of Sprint Corp. and Nextel Communications could mean changes for Kirkland-based Nextel Partners Inc.
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PHILADELPHIA/NEW YORK  - 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. 3 and  No. 5 U.S. wireless telephone companies, sources familiar with  the situation said on Friday.
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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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The US mobile phone company, Sprint, agreed a $35bn (Â£18bn) takeover of rival Nextel yesterday, creating a third powerhouse in the rapidly consolidating American market.
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The merger deal between Sprint and Nextel, which reportedly has not been finalized, is being described as a merger of equals that would create the third largest US cellular carrier with nearly 39 million subscribers.
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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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Sprint Corp. and Nextel Communications Inc. on Wednesday announced plans to merge, creating a more formidable rival to the two largest US mobile operators, and a large wireline communications company supporting
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No more tentative agreements--in what the two companies deem a &quot;merger of equals,&quot; Sprint and Nextel officially announced a definitive agreement to merge.
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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 Corp.  said on 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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A merger between Sprint and Nextel would create a powerful new cellular competitor with some 39 million customers.
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Executives from SprintÂ and Nextel CommunicationsÂ took to a stage at the St. Regis Hotel in New York Wednesday to announce a definitive agreement to merge their two companies and create the third largest mobile phone company in the U.S.
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Sprint and Nextel agree to merge in a deal which will create the third largest mobile phone operator in the US.
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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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Today probably comes as little surprise to anyone. Sprint (NYSE: FON) will purchase Nextel (Nasdaq: NXTL) for $35 billion, resulting in a company that will be called -- you guessed it -- Sprint Nextel.