Sprint, Nextel set for $35B merger
Sprint, Nextel set for $35B merger - reports (FON, PCS, NXTL) By August Cole
SAN FRANCISCO (CBS.MW) -- Sprint Corp. (FON) (PCS) and Nextel Communications (NXTL) have reportedly reached a $35 billion deal that would be a merger of two telecom giants. The Wall Street Journal reported Friday afternoon that the two companies have reached a "tentative agreement" for a merger of equals. Earlier, financial news channel CNBC reported that Sprint would exchange 1.3 of its shares for each share of Nextel. The deal, which includes cash, would be worth $35 billion, CNBC said. Sprint's chief executive would be the CEO of the combined company while Nextel's CEO would become the chairman, CNBC reported
SAN FRANCISCO (CBS.MW) -- Sprint Corp. (FON) (PCS) and Nextel Communications (NXTL) have reportedly reached a $35 billion deal that would be a merger of two telecom giants. The Wall Street Journal reported Friday afternoon that the two companies have reached a "tentative agreement" for a merger of equals. Earlier, financial news channel CNBC reported that Sprint would exchange 1.3 of its shares for each share of Nextel. The deal, which includes cash, would be worth $35 billion, CNBC said. Sprint's chief executive would be the CEO of the combined company while Nextel's CEO would become the chairman, CNBC reported
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