Embarq split complete

19 May 2006

Sprint Nextel has completed the spin-off of its local telephony division Embarq Corp. Sprint aims to concentrate on its core business of cellular telephony while Embarq will go it alone in the tougher fixed line sector. Embarq is now the fifth largest local carrier in the US, with 7.3 million lines in service across 18 states. It is forecasting net operating revenue of between USD6.4 billion and USD6.5 billion in 2006, down from USD6.7 billion last year.