Sprint to sell Nextel iDen?

Posted by Kallan Dahn Friday, August 8, 2008

Nothing has happened yet but Sprint is currently in talks to sell their iDen assets. Meanwhile Sprint has decided to cancel the sale of $3 Billion in preffered stock. Sprint may be very hard pressed to get anyone to buy their out-dated iDen assets. There are now faster, more reliable network technologies that can handle more capacity. Sprints iDen network is already over-loaded, and the former Nextel subscribers are leaving in droves. The purchase three years ago was valued at $35 billion, and it is said the current value of these assets has deeply depreciated to $5 Billion.
A letter to Keith Cowan, an executive in charge of strategy and development sheds a little bit of light on Sprints position on their iDen assets. In the letter, Cowan was offered a $1 Million bonus for the "strategic resolution of the iDen Network."

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