Sprint to sell off assets due to subscriber defections?
By Nilay Patel | May 13, 2008
Filed under: Cellphones, Wireless
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Things aren’t going so hot down Sprint way right now — although the carrier recently entered into that landmark $12B WiMAX deal with Clearwire and several other companies, it lost over a million wireless subscribers last quarter and posted a net loss of $211M. That’s enough for CEO Dan Hesse to smack the emergency button: he’s laying off 4,000 workers, closing Sprint stores, and cutting rates in an efforts to gain back customers and get back into the black. On top of all that, word on the street is that Sprint may also start selling off other assets, including lame-duck Nextel, even though that would involve “significant complexities,” according to Hesse. Still, just the fact that he’s thinking about it seems like a sign — too bad no one asked him about those Deutsche Telekom buyout rumors.
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