Sprint Nears Acquisition of Nextel
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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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PHILADELPHIA/NEW YORK  - Sprint Corp. is in  advanced talks to 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 service carriers, sources familiar with  the situation said on Friday.
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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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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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Nextel Communications is in advanced talks to merge with the Sprint Corporation, according to executives involved in the negotiations.
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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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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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UPDATED: Sprint (Quote, Chart) and Nextel (Quote, Chart) have agreed to merge, to better compete with Cinglar and Verizon Wireless for voice and data customers.
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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 Corp. on Wednesday agreed to  buy mobile telephone company Nextel Communications Inc. in a  deal worth $36.3 billion to gain more business customers and  more airwaves to transmit calls.
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Dec. 11--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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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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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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Sprint or Nextel Communications, the two US mobile phone network companies that agreed to a $35bn merger earlier this week, have set a December 31 2005 deadline to complete the deal.
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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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Verizon Communications Inc. has eyed a potential acquisition of Sprint Corp. (FON.N: Quote, Profile, Research) , but has no imminent plans to make a bid, people familiar with the situation said on Tuesday.
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Citing "sources familiar with the situation," Reuters is reporting that Sprint is in advanced talks to buy Reston-based Nextel in a mostly stock deal that would combine the No. 3 and No. 5 U.S. wireless service carriers.