The Wall Street Journal
reported Thursday that Relational Investors, the San Diego investor led by gadfly Ralph Whitworth, has taken a nearly 1% stake in the Reston, Va., company.
The news comes just a week after Sprint suffered an embarrassing setback when the government froze it out of a key communications services contract. Sprint has suffered several financial shortfalls over the past year and management has been shaken up repeatedly, leaving CEO Gary Forsee alone at the top of the company.
Relational has previously been involved in forcing management changes at
Shares rose 42 cents to $19.60.