The BizJournal has an interesting article about Sprint-Nextel. Like so many mergers, the projections never make it to reality. Synergies and savings don't happen. And the combined company ends up with 20% less value.
The key is planning and execution:
"There really is one overarching strategy: execution," said Charles Golvin, an analyst at Forrester Research.
If Sprint Nextel executes in retaining and attracting high-value subscribers, it can regain its strong No. 3 market share position behind Verizon Wireless and Cingular Wireless.... If it fails and continues to bleed customers and to overspend on underperforming technologies, Sprint Nextel could become takeover bait for a cable giant, such as Comcast Corp.