Sprint, Nextel Agree To &#39;Merger Of Equals&#39;
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Wireless operators agree to $35 billion deal to create a new company that will be called Sprint Nextel. By Mobile Pipeline News. The merged company, which the companies positioned as a merger of equals, will be called Sprint Nextel.
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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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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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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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Sprint and Nextel reportedly reach a "tentative agreement" on a merger which will create the third largest mobile phone operator in the US.
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Sprint (FON:NYSE - news - research) and Nextel (NXTL:Nasdaq - news - research) have struck a tentative merger agreement, according to news reports.
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The two companies had reached an agreement in principle last month. Vonage has also settled disputes with Sprint and Verizon in recent months.
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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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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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Wireless provider Sprint Nextel Corp. said Wednesday it is acquiring affiliate Northern PCS in a deal worth $312.5 million.
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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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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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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 Corp.&#39;s agreement to buy Nextel Communications Inc., in a $35 billion deal unveiled yesterday, will shake up the mobile phone market and create the third largest US wireless service provider.
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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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NEW YORK 07:30 EST - It&#39;s official. Sprint and Nextel is becoming &quot;Sprint Nextel&quot; in what is being described this morning by both companies as a &quot;merger of equals.
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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.