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Article: Nextel Partners Appraised: Sprint Tab For Nextel Nears $50B.
- Article from:
- TelecomWeb News Digest
- Article date:
- December 21, 2005
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Sprint Nextel is going to pay an unexpectedly high $6.5 billion for the 68 percent of Nextel Partners, its largest reseller, which it doesn't already own; the sum, along with the cost of a string of other resellers that it has been forced to buy, adds almost $14 billion to the $36 billion that Sprint originally paid for Nextel.
The $6.5 billion price tag represents an appraised value for Nextel Partners of $28.50 per share, a surprising premium of 8.3 percent above Nextel Partner's closing share price yesterday. The deal ends months of bickering that started even before the shareholders of Sprint and Nextel formally approved the acquisition of Nextel by ...