Business Services Industry
Sprint merger momentum builds.
Knight Ridder/Tribune Business News, December, 2004
The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Dec. 15--KANSAS CITY, Mo. -- Sprint Corp. executives flew to New York on Tuesday evening to announce that they had reached a deal to merge with Nextel Communications, a smaller wireless rival.
A formal announcement at the St. Regis Hotel this morning is expected to end a week of rampant speculation and address community angst about the future of the Kansas City area's largest corporate employer.
The proposed Sprint-Nextel deal still would require the approval of shareholders and regulators. In the meantime, other companies in the highly competitive wireless industry could launch a variety of strategic countermoves.
The Sprint-Nextel deal has stirred excitement on...
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