Verizon to Buy MCI in $6.75 Billion Deal
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Verizon Communications Inc. on  Monday said it would buy long-distance telephone company MCI  Communications Inc. in a deal worth $6.75 billion, giving  Verizon a foothold in the market for serving large  corporations.
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Agreement with Verizon will allow deployment of a citywide wireless network.
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Verizon Wireless said on Thursday that  it had signed an agreement with NextWave Telecom Inc. to  purchase all of its airwave licenses for $3 billion.
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Sprint agreed on Wednesday to buy Nextel Communications for about $35 billion, doubling its customers and bolstering its No. 3 position in the US wireless industry.
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Verizon Wireless announced yesterday that it plans to buy airwave licenses in 23 markets from NextWave Telecom Inc. for &#36;3 billion in cash, giving the cellular phone giant the ability to carry more calls in some of the nation's largest cities.
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MCI Inc. board members accepted an offer Sunday night from Verizon Communications Inc. valued at $6.6 billion to $6.8 billion after rejecting a sweetened bid from Qwest Communications, sources close to the negotiations said.
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Verizon Communications Inc. VZ.N  on Monday said it would buy long-distance telephone company MCI  Communications Inc. MCIP.O in a deal worth $6.75 billion,  giving Verizon a foothold in the market for serving large  corporations.
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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 private buyout firm that had said it was seeking to take control of MCI Inc. has sold its 5 percent stake in the long-distance giant for a $20 million pretax profit.-The Washington Post
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Verizon Wireless said it has reached a deal to buy all of NextWave&#39;s remaining spectrum licenses for US$3 billion in cash, just the latest instance of consolidation in the wireless industry
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Merger talks between Verizon  Communications VZ.N and MCI Inc. MCIP.O have advanced, and  the two companies could announce a deal in the next few days,  the Wall Street Journal reported on Friday.
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Verizon's acquisition ends the independence of MCI, the nation's second-largest long-distance company.
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Sprint Corp. said yesterday it will acquire Nextel Communications Inc. in a $35-billion deal that will create the nation&#39;s third-largest wireless phone carrier, Sprint Nextel.
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Investor's Business Daily - Verizon Wireless has agreed to buy NextWave Telecom's spectrum licenses in 23 markets for &#36;3 billion in cash as the nation's two regional Bell-owned wireless firms -- Verizon and Cingular -- gobble up the airwaves.
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Telecommunications giant Sprint Corp. is acquiring Nextel Communications Inc. in a &#36;35 billion deal that would create the nation's third largest wireless telephone service provider.
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America&#39;s third-largest mobile operator, Sprint, yesterday agreed to buy the fifth-largest, Nextel, in a well-flagged cash and shares deal worth $36.3billion (Â£19billion).
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The company&#39;s sixth buy this year is meant to aid service providers in controlling and managing Internet-based networks, such as VoIP and interactive gaming.