Fergie's Tech Blog

Sprint Nextel Is Here

Via Red Herring.

Sprint Nextel is official. The two carriers completed their union August 12, forming the No. 3 wireless U.S. wireless outfit.

The newly joined company will begin trading on the New York Stock Exchange under the symbol “S” on August 15.

While the duo creates a formidable player in the wireless market, Sprint’s $35-billion combination with Nextel may face a tough road ahead.

Sprint’s CEO Gary Forsee said, “Sprint Nextel will win in the market,” as the combined company looks to move up in the ranks to rival the top two cellular companies, Cingular and Verizon Wireless.

But analysts like InStat’s Alan Hall call the merger a “very difficult challenge,” despite its good potential. Both companies have different market advantages, customer bases, and technologies. These assets could all end up working in the merged company’s favor or against it.

posted by Fergie @ 8/12/2005 07:10:00 PM