Today Sprint Nextel and Embarq announced the sale of 4.485 billion of senior notes of Embarq. On this past Wednesday Sprint Nextel officially spun off it’s wireline business as Embarq creating the new company. This is something that we all knew was coming since the announcement of the Sprint Nextel merger. But with the sale of the Embarq senior notes the new entity now has the financing to continue on their own. So what does this mean to us? It means that Sprint Nextel can now concentrate on the integration of the CDMA and iDEN networks and EVDO coverage expansions. Not to mention the upcoming dual mode handset launch among many other aspects of the merger. From this point on we should see the merger integration process’ tempo pick up a bit. At least we all hope so.
Press Release
