All Posts Tagged Tag: ‘Sprint Nextel’

Sprint’s Clearwire Acquisition is Complete

Last December, Sprint Nextel announced that it intended to pay $2.2 billion to fully acquire the portion of telecom company Clearwire that it did not already own. Today, Sprint announced that the transaction is finally complete. Clearwire shareholders approved the sale in a special shareholders meeting held on July 8. The sale closed on July 9, and is effective immediately. …

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Sprint-SoftBank Merger Approved by U.S. FCC

In late June, Sprint Nextel shareholders voted to approve the proposed merger of Sprint and SoftBank during a special shareholders meeting. The only hurdle left for the companies was the U.S. Federal Communications Commission (FCC), which needed to approve the transaction. On Friday, while many Americans were still enjoying an extended Fourth of July holiday, the FCC came through with …

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Sprint to Shut Down Nextel on June 30

Sprint Nextel today announced that it is still planning to shut down the Nextel National Network by the end of June. The company has stated that June 29 will be the final day of full Nextel iDEN network service. On Sunday, June 30, iDEN phones will not receive voice or data. Sprint stated the equipment that powers the network will …

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Sprint Losses Drop, But So Do Subscribers

Sprint, the third largest wireless carrier in the U.S., today released its first quarter 2013 financial results. The report shows that the company’s net losses have decreased from the fourth quarter of 2012, though it also shows worrying trends, such as falling subscriber numbers. Sprint reported a net loss of $643 million, compared to the $863 million net loss it …

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$25 Billion Offer From Dish A 13% Premium Over SoftBank’s Sprint Offer

As previously reported, Dish Network announced a proposal on Monday to merge with Sprint Nextel in a deal worth $25.5 billion. According to Dish, the offer is a 13% premium over the pending acquisition by SoftBank announced last year. In a letter to Sprint Nextel Chairman of the Board, James Hance, Jr., Dish chairman Charlie Ergen wrote, “We are offering …

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Dish Network Proposes $25.5 Billion Sprint Nextel Merger

Dish Network proposed a $25.5 billion merger with Sprint Nextel on Monday. Under the proposal, which has been submitted to the Sprint Nextel Board of Directors, Sprint shareholders would get $7.00 per share. The proposal is designed to upstage the pending $20.1 billion acquisition form Softbank, which has yet to close. Dish Network Chairman Charlie Ergen said, “The Dish proposal …

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Softbank To Drop $20.1 Billion On Sprint Nextel

Last week, there were reports that Softbank was about to acquire Sprint Nextel, and today, the companies made it official. Softbank and Sprint Nextel announced that they have entered into an agreement in which Softbank will invest $20.1 billion in Sprint. $12.1 billion will be paid to Sprint shareholders, and $8 billion of new capital will be used to “strengthen …

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Softbank May Soon Acquire Sprint Nextel

Sprint Nextel may soon be acquired by Softbank, according to a report from the Wall Street Journal, which says the Japanese carrier is in “advanced talks” to buy a “substantial stake” in Sprint Nextel in a deal that could exceed $12.8 billion. The Journal cites “a person with knowledge of the negotiations” as the source of this info. Reuters is …

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