Sprint and Nextel Announce Final Date for Merger

5:52 pm on August 10, 2005 | Category: Business, Corporate, Wireless

Sprint and Nextel Communications have announced that they plan to finalize their $35 billion merger agreement on August 12 (Friday). The newly combined entity, Sprint Nextel, will begin trading as one company (NYSE: S) on Monday Morning. This newly announced date comes much earlier than expected; only one week after the companies received final approval from the Federal Communications Commission.

The finalization of this merger comes after much anticipation, and many hurdles along the way. The two companies have faced disputes from several of their affiliates, including Alamosa Holdings and UbiquiTel Inc., and while the merger will be allowed to go ahead, new contracts with these affiliates will have to be arranged over the next few months. In one disagreement that could not be resolved, even temporarily, Sprint was forced to buy out the disputing party, U.S. Wireless, at a cost of $1.3 billion.

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    1. [...] Even after its much-publicized acquisition of Nextel, the newly formed Sprint Nextel Corp. still doesn’t possess a controlling interest in corporate affiliate, Nextel Partners, Inc. [...]

      Pingback by Sprint Orders Appraisal of Nextel Partners, Inc. » Telecommunications Industry News — November 14, 2005 #

    2. [...] After merging with rival carrier, Nextel, Sprint decided to divest its local phone operations into a company named Embarq, which began trading independently last week. Although profitable, the division was seen by some as a rock around the carrier’s neck, as it tried to further develop its fast-growing mobile phone business. [...]

      Pingback by Sprint Chairman: “The World is Going Mobile” » Telecommunications Industry News — May 24, 2006 #

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