Monday, November 07, 2005

Alltel & Sprint Spinning Off Wireline

"Sprint Nextel plans to sell its local telephone business to its shareholders next spring, creating new ownership and management structures..." "Arkansas-based Alltel is also considering various options, including selling the wire-line business to its shareholders or merging the business with another phone company and retaining a 51% ownership." Both companies are banking on their cellular divisions for future growth.

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