Sprint sticks with Nextel

3 Nov 2008

Sprint Nextel has announced that it is hanging onto Nextel’s iDEN operations after failing to find a buyer for the struggling unit. Though the cellco never officially confirmed that Nextel was up for sale, it is thought that efforts have been made to find a buyer since early this year. The division did attract some interest, with private equity firm Cerberus Capital Management and Latin American iDEN operator NII Holdings both linked as possible buyers, but the current economic climate is thought to have barred the way to a final offer being made. Sprint says it will now renew a long-term partnership with equipment vendor Motorola which helped develop iDEN technology. Motorola will help maintain the Nextel network and provide new devices for iDEN users.

United States, Motorola, Sprint Corporation (now part of T-Mobile US)