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Article: Sprint Nextel Hires Lazard As Appraiser
- Article from:
- AP Online
- Article date:
- November 14, 2005
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
11-14-2005
Dateline: OVERLAND PARK, Kan.
Sprint Nextel Corp. has hired investment firm Lazard Ltd. to appraise Nextel Partners Inc. in a battle to determine how much the parent company will pay to buy out its affiliate.
Nextel Partners shareholders approved a provision last month requiring parent Sprint Nextel Corp. to buy the two-thirds of the company it doesn't already own.
The move was triggered by Sprint Corp.'s $35 billion acquisition of Nextel in August. Nextel Partners and other affiliates provide wireless service to customers in rural areas and smaller cities not served by Sprint or Nextel.
After months of court fights over how to value Kirkland, Wash.-based Nextel Partners, ...