Sprint Nextel Selling Their Towers

Sprint may not have had a lot of fun after it acquired Nextel in 2005, and their latest move might seem like another bad move to most people. It seems that they’ve sold off nearly all (about 3,300) of their wireless communications tower to TowerCo in return for about $670 million in cash. According to Nextel’s Bob Azzi, this move, which would see them lease, rather than own these network facilities would enable them to better focus on their core business, which is providing communications services to consumers, businesses and government customers. He added that it will also provide Sprint Nextel with additional liquidity for greater flexibility in managing the company. Now it’s up to the public as to whether they want to believe what he says, not that it matters.