Sprint Nextel turns down $5 billion investment offer
The Wall Street Journal and The New York Times both reported that Sprint Nextel had rejected a $5 billion investment offer from South Korea’s SK Telecom and Providence Equity Partners. That bid also included the promise of former Nextel Chairman and CEO Tim Donahue being installed as CEO of Sprint Nextel. In today’s economic climate many telecom companies would have jumped at the offer.
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