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Sprint Corp. and Nextel Communications Inc. merger

MensagemEnviado: 10/12/2004 13:21
por Visitante
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In U.S. corporate news, Sprint Corp. and Nextel Communications Inc. are in discussions about a potential merger that would top $30 billion and rapidly accelerate the consolidation of the nation's wireless industry, The Wall Street Journal reports. Such a deal would create the nation's third-largest cellphone operator with about 38.5 million customers, narrowing the domestic cellular industry into a business dominated by three giants. Cingular Wireless, Verizon Wireless and a combined Sprint-Nextel would control about 75 percent of the market. Discussions between Sprint and Nextel are ongoing, say people familiar with the matter. Verizon Wireless also could enter the fray. The possibility of a Sprint-Nextel tie-up was first mentioned in the Journal's "Heard on the Street" column yesterday.