Friday, August 8,2008 @ 12:45pm
Sprint to sell iDEN network despite promises?
In spite of promises to the contrary earlier this year, Sprint is indeed looking to sell its iDEN push-to-talk network, according to CNBC. Although no sources have been cited by the TV network, Sprint is already said to be negotiating with NII Holdings for a deal, as well as with separate private equity investors. NII operates primarily in Latin American countries, and is one of the few companies outside of Sprint to rely on iDEN.
Sprint is said to be desperately in need of money, as it recently canceled a $3 billion convertible sale only a day after announcing it. The company has also continued to suffer mounting declines in business, having just recently announced a loss of 901,000 subscribers, on top of a full million who left during the winter. To cope, Sprint has undertaken measures like selling 3,300 cellular towers.