Sprint to Merge with Nextel $35 Billion Deal

The widely rumored deal announced Wednesday would create a company
that would be known as Sprint Nextel that would had about $40 billion
in combined revenue in the latest year and would serve more than 35
million wireless subscribers, trailing only the industry leaders
Cingular Wireless and Verizon Wireless.

Sprint would get access
to Nextel's large base of business customers as a result of the deal
while Nextel would get an opportunity to expand faster as it was
approaching a decision on a big investment in upgrading its network
infrastructure.

The deal was structured as merger of equals that values each company at about $35 billion.