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Sprint rises on SK buyout talks report

Discussion in 'Wireless News' started by larry, Jul 15, 2008.

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  1. larry

    larry Sprint loyalist and former mod
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    NEW YORK (Reuters) - Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) shares rose almost 14 percent on Tuesday after CNBC reported that South Korea's SK Telecom Co (017670.KS: Quote, Profile, Research, Stock Buzz) was in talks to buy the No. 3 U.S. wireless service.

    According to the television network, which did not name any sources for the story, a deal between the companies would be friendly and the biggest takeover by a South Korean company of a U.S. company.

    Sprint has been struggling to stem customer losses amid customer service problems and issues integrating its 2005 purchase of Nextel Communications.

    Sprint declined comment and SK representatives were not immediately available for comment.

    Sprint shares rose $1.15 at $9.41 after the news.

    Sprint rises on SK buyout talks report | Industries | Technology, Media & Telecommunications | Reuters
     
  2. larry

    larry Sprint loyalist and former mod
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    If a deal has to be made I would rather see this instead of T-Mobile's parent.
     
  3. Blue4Life

    Blue4Life Senior Member
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    Sprint not in acquisition talks with SK: source

    Sprint not in acquisition talks with SK: source

    NEW YORK (Reuters) - Any talks between SK Telecom (017670.KS) and Sprint Nextel (S.N) are about technology collaboration rather than an acquisition of the No. 3 U.S. wireless service, according to a person familiar with the matter.

    The comment followed a CNBC report that SK and Sprint were in merger talks.

    "There are no acquisition talks going on right now between SK Telecom and Sprint. Any discussions that are going on are around technology collaboration," said the source, who asked not to be named because the person was not authorized to talk on the subject.

    (Reporting by Sinead Carew; Editing by Gary Hill)
     
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  4. Kalimotxo

    Kalimotxo Bronze Senior Member
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    Wirelessly posted (Mozilla/4.0 (compatible; MSIE 6.0; Windows 98; PalmSource/Palm-D062; Blazer/4.5) 16;320x320)

    Interesting news. Collaboration of technology? WiMax?
     
  5. larry

    larry Sprint loyalist and former mod
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    Good to hear that it might not be a merger. I want to see Sprint stay independent and if their stock prices keep going up it will make them a tougher acquistion target.
     
  6. Ddeere2

    Ddeere2 Senior Member
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    That's good Sprint's not being bought out, even though I don't like the company. I wouldn't doubt its on collaboration but I read one of the updates that they rejected a 5 billion investment offer from SK Telecom and Providence Equity Partners. I doubt Sprint's stock will go up anytime soon. If they're quarterly reports don't improve and investors don't like what they're doing, they'll stay around the same for a while. They just shaved off the jump they had yesterday, they're back to 8.67
     
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  7. Eric47

    Eric47 Bronze Senior Member
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    what ever happened to US companys being owned and operated in THE US!!!
     
  8. AnthroMatt

    AnthroMatt Big Meanie
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    That died a long time ago. Aren't just as many Japanese cars made in the US as American cars now?

    I did read an article that the high cost of fuel is actually starting to make some companies think about moving jobs back to the USA, as the higher wages cost about the same and are more easy to predict than the fuel prices that have raised the cost of doing business overseas.

    Anyway, that is a bit off topic.

    Is it sad that I don't really care what happens to Sprint, so long as they don't just disappear and go belly-up?
     
  9. Eric47

    Eric47 Bronze Senior Member
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    we could start a thread about US jobs or economy or something :idea:
     
  10. cheddar

    cheddar Senior Member
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    That was all pre-collapse of the dollar. Countries like China have so many dollars they could heat their homes with them. US companies are practically free now.
     
  11. Ddeere2

    Ddeere2 Senior Member
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    It doesn't help the dollar isn't as strong anymore. I saw a documentation on Discovery I think that companines are moving their labor overseas because its cheaper. It all equals back out because of the shipping. I think the news is back to saying SK telecom might buy Sprint. But I doubt it, look at Sprints market cap and look how much cash SK Telecom has on hand. Not enough. I'm glad I dumped their stock a long time ago.
     
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  12. Eric47

    Eric47 Bronze Senior Member
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    even if they buy them i dont see them getting anywhere with it...there is just to many things that need to be in place for them to keep up that they dont have. they probably want them just to turn around and sell them off after the economy gets better or after their image improves some.
     
  13. Simon5282

    Simon5282 Senior Member
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    That would be politics, one of my favorite topics, but not a good one to talk about on this forums. Besides, I would piss to many people off with my opinions.

    Can't blame them. It is a good deal for them. After all, the Feds pissed away the value of our dollar.

    That is all the politics I will talk about on this forum. After all, this is not a political forum.

    R.I.P. Anheuser-Busch, the greatest American company ever. :(
     
  14. Eric47

    Eric47 Bronze Senior Member
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    i switched back to coors.
     
  15. AnthroMatt

    AnthroMatt Big Meanie
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    Molson owns Coors right?

    And Sprint is not getting bought...not anytime soon, so that should make everyone happy...right.
     
  16. Eric47

    Eric47 Bronze Senior Member
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    really? dang
     
  17. curbside

    curbside New Member

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    Americans don't complain when a US company buys out a company in another country. I guess it can happen in reverse.
     
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