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 (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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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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LONDON - US cellular operators Sprint and Nextel have confirmed they are planning a $35 billion merger to create the third largest mobile carrier with almost 40m subscribers, behind Cingular, the market leader, and Verizon Wireless, a joint venture
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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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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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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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The proposed $35 billion merger of Sprint Corp. and Nextel Communications could mean changes for Kirkland-based Nextel Partners Inc.
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Sprint and Nextel Communications could announce a &#36;35 billion merger this week in a deal that would forge a third goliath in the quickly consolidating wireless industry.  The union would complete Sprint's transformation from perennial also-ran in the troubled long-distance business.
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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.
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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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Sprint Nextel  reported deeper-than-expected subscriber losses on Friday and said it would cut about 4,000 jobs, sending its shares down 19 percent to their lowest level in more than five years.
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Sprint Nextel , the No. 3 U.S.  mobile service, said on Friday it would cut about 4,000 jobs  within the company, close 125 stores and reduce its use of  outsourced services to improve its financial performance.
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Sprint Corp. and Nextel Communications Inc. customers are likely to see lower prices and better coverage as a result of the companies&#39; planned $35 billion merger.
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Sprint, the fourth-largest US cell phone operator, has started a $3 billion network upgrade, with $1 billion earmarked for a wireless broadband service to launch soon in selected cities, a Sprint executive said Tuesday.
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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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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.