Nextel the Big Winner in Sprint Merger
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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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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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Sprint and Nextel Communications agreed Wednesday to a merger that will create the third largest US wireless company. The stock-cash deal has an estimated value of more than $35 billion, depending on the value
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A marriage of Nextel Communications and Sprint could mean significant change for Kirkland-based Nextel Partners as well. Sprint and Nextel Communications are reportedly close to a deal that would create the third-largest US wireless carrier.
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When Sprint and Nextel Communications merge, they will be competing against their much larger rivals, Cingular Wireless and Verizon Wireless.
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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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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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Shares of Sprint Corp.  FON.N  jumped on Friday as the telephone company continued merger  negotiations with Nextel Communications Inc. NXTL.O for a  deal that would combine the No. 3 and No. 5 U.S. wireless  service carriers.
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Sprint and Nextel formally announced a $35 billion merger agreement Wednesday and offered details on how the corporate combination would affect employees and consumers. -The Washington Post
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The widely expected merger between Sprint Corp and Nextel Communications has been agreed in a $36 billion deal likely to end Vodafone&#39;s chance of gaining an independent foothold in the American market.
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* Sprint&#39;s strong wireless Internet service and Nextel&#39;s walkie- talkie feature popular among mobile professionals would be a competitive combination.
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PHILADELPHIA/NEW YORK  - Sprint Corp. is close to  an agreement buy Nextel Communications Inc. for more than $36  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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The rumors are true: Sprint Nextel will form the No. 3 wireless company.
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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 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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Nextel (NXTL:Nasdaq - news - research) and Sprint (FON:NYSE - news - research) shares surged to multiyear highs, fueled by reports that the telcos are in merger talks.
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WASHINGTON  - Sprint and Nextel reached tentative agreement on a merger of the two wireless telecom groups in a deal worth an estimated 34.8 billion dollars, reports said.