August 31, 2011 |
The Obama administration Wednesday filed to block AT&T's proposed $39 billion acquisition of wireless rival T-Mobile USA because of anti-competitive concerns. The Justice Department said the acquisition would "remove a significant competitive force" with AT&T and T-Mobile competing in at least 97 of the top 100 U.S. wireless markets, according to court papers obtained by Reuters. Blocking the acquisition on antitrust grounds would deal a blow to the telecommunication giant's expansion plans.
August 3, 2010 |
Leap Wireless International Inc., a pay-as-you-go mobile phone provider, said it would expand its Cricket service across the U.S. in a $300-million deal with Sprint Nextel Corp. Leap, based in San Diego, will expand over Sprint's network during the next five years, the company said Tuesday in a regulatory filing. Sprint will receive at least $25 million next year, $75 million in each of the following three years and $50 million in 2015, according to the filing. The carrier will get an undisclosed amount for each new Leap customer.
November 8, 2012 |
Sprint Nextel Corp. said it is buying a large chunk of struggling U.S. Cellular Corp., including its hometown Chicago market, for $480 million. The nation's third-largest cellular phone company also is buying U.S. Cellular's operations in St. Louis, central Illinois, Indiana, Michigan and Ohio. The deal, which requires regulatory approval and is expected to close in mid-2013, will transfer spectrum and about 585,000 customers — roughly 10% of U.S. Cellular's subscribers — to Sprint.
March 30, 2007 |
Dealing a significant blow to Sprint Nextel Corp., the government Thursday awarded the largest-ever federal telecommunications contract -- a 10-year deal worth as much as $48 billion -- to Sprint rivals AT&T, Qwest Communications and Verizon.
April 15, 2013 |
SoftBank Corp., whose bid for 70% of Sprint Nextel Corp. now faces an unexpected challenge from Dish Network Corp., isn't backing down. In a statement released late Monday, the Japanese telecommunications giant said its deal to invest $20.1 billion in the United States' third-largest wireless carrier was better than the unsolicited offer made by Dish. "SoftBank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short- and long-term benefits to Dish's highly conditional preliminary proposal," SoftBank said.
August 4, 2006 |
Sprint Nextel Corp. on Thursday reported weaker-than-expected revenue and wireless subscriber growth in the second quarter and cut its full-year outlook, driving shares down 16% to a two-year low. Hefty merger charges also helped push down profit at the No. 3 U.S. wireless provider, eclipsing its announcement of a $6-billion share buyback. Reston, Va.-based Sprint, which bought Nextel last August, said profit was $370 million, or 10 cents a share.
August 7, 2008 |
Sprint Nextel Corp. and Qwest Communications International Inc. posted lower second-quarter sales amid heightened competition for telephone customers. Sprint, the third-biggest U.S. wireless carrier, said Wednesday that it recorded a $344-million loss as sales declined 11%. Qwest, No. 3 in the U.S. local-phone market, said profit fell 24% and sales slipped 2.3%. The carriers are losing subscribers to Verizon Wireless and AT&T Inc. and are looking for ways to revive growth.
July 16, 2008 |
SK Telecom Co., South Korea's largest mobile-phone operator, was reported Tuesday to be in talks to buy struggling Sprint Nextel Corp., the third-largest wireless carrier in the U.S. SK Telecom declined to confirm or deny the report from business news channel CNBC. "There is nothing we can say on the report," said Ryu Mina, a spokeswoman for Seoul-based SK Telecom. No deal is imminent and no price has been set, CNBC said, citing people familiar with the talks.
February 20, 2009 |
Sprint Nextel Corp., the nation's third-largest wireless carrier, said it continued to lose customers and money in the fourth quarter and wrote down the remaining value of its 2005 purchase of Nextel Communications Inc. Even so, Sprint Nextel's condition has been so poor that investors were able to seize on news that wasn't as bad as usual. Sprint's adjusted loss beat Wall Street expectations, and the company predicted fewer customer losses in the coming year. That sent shares soaring 54 cents, or 20%, to $3.25.
October 31, 2007 |
Verizon Wireless and Sprint Nextel Corp. are in "advanced talks" with Google Inc. about carrying a cellphone powered by the Web company's software, according to a published report. The Wall Street Journal's online edition cited unnamed sources in reporting the talks Tuesday. The paper said Google was expected to announce within two weeks a set of software and services that cellphone makers could use.