The internet and the news media are buzzing that SPRINT/Nextel is ripe for a hostile takeover. Sprint has not been doing well in past years and it may become interesting!! The following is an excerpt from Phonemag.com …
Suspicion is growing that Sprint is considering going the way of Motorola and looking to amputate part of their business, with many believing that troubled purchase Nextel are most likely to be spun off. According to Seeking Alpha, the carrier has hired Morgan Stanley to manage the sell-off, having suffered two years of poor performance since acquiring Nextel in 2006. Late in February Sprint was forced to freeze dividends as subscriber losses were predicted at 1.2-million in the quarter and losses soared to almost $30bn. In response, the share price plummeted by 13-percent to a five-year low. Seeking Alpha believe an announcement will come in 2-4 weeks, but other sources suggest a more encompassing sale is on the cards.
The analyst firm Merrill Lynch is suggesting that Deutsche Telecom, the parent company of T-Mobile and sixth-largest carrier in the world, is considering buying both Sprint and Nextel so as to prevent the CDMA carrier from further cutting their prices (Sprint recently announced the US’ best, most feature-inclusive $100 `Unlimited’ deal) and sparking off a price-war in which T-Mobile might stand most to lose.
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If SPRINT/Nextel is broken up and/or doesn’t recover and become profitable, what will this mean to their NASCAR Cup Sponsorship and other ventures? I have also heard rumors that several other Telecom companies, including AT&T and Verizon may be interested in buying parts of the company. Do a Google search on “Sprint Takeover”, you will find all sorts of news from around the world on this issue!!
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release-2.0.4.1/451 Wed Jul 9 19:20:39 UTC 2008
19 Comments
Steve_CA88
May 07 2008 13:10
Since Winston Departed...
I have refused to call it anything but simply The “CUP” Series. I am not a fan of NEXTEL or Sprint. I love my Verizon Wireless products! This may become very interesting I think!
dar1963
May 07 2008 08:50
theres
really nothing we can do about it,and i dont think anyone will stop watching because of the name,i dont think it really matters,scotthicks88 had a good idea go back to winston cup.
Jjfanalex
May 06 2008 10:06
I think we can all agree
No matter what they call it,we are still gonna watch it,love it and hate Kyle Busch just the same…lol….just drop the rag and go racin!
24JG4EVR
May 05 2008 23:29
You know...
doesnt make any difference to me…too much sponsor crap now…I hope it becomes the Jim’s Burger Shack series…wont change my perspective.
eaglenest
May 05 2008 23:17
takeover
seems like a lot of that going on nascar overprice it self.
24Cynascar
May 05 2008 21:41
Ummm Girl ....
Harpo lol .......
cat3rgrl
May 05 2008 20:54
would it
be funny that after banning other telecommunication co. the cup would be taken over by one of the banned LOL
Harpo1958
May 05 2008 20:53
Hendrick Cup? That girl ain't right!
Very interesting, Steve! And great profile pic, by the way!
FASTALANH
May 05 2008 19:01
Things just keep getting better.
NOT REALLY. This is just another pain in the butt for NASCAR.
scotthicks88
May 05 2008 18:34
Go Back to Winston Cup
It may not be PC, but at least Winston made it through the lawsuits, and may be financially able to rejoin NASCAR and bring it back to the way it used to be!