NEW YORK (AP) - Telecommunications giant Sprint Corp. (FON) is acquiring Nextel Communications Inc. (NXTL) in a $35 billion deal that would create the nation's third largest wireless telephone service provider.
The widely rumored transaction, announced Wednesday, would create a company called Sprint Nextel with about $40 billion in combined yearly revenue and more than 35 million wireless subscribers, trailing only Cingular Wireless and Verizon Wireless.
