Sprint Reportedly Seeking to Raise $3.5 Billion by Mortgaging Wireless Airwaves
Sprint shares were higher on Wednesday following news that the company is preparing to mortgage its wireless airwaves business.
Sprint (S) - Get Report shares were higher on Wednesday following news that the company is preparing to mortgage its wireless airwaves business. According to the Wall Street Journal, Sprint is looking to mortgage about 14% of its wireless airwaves to raise needed cash to fund its business. The company said independent analysts valued the section of airwaves at $16.4 billion, but sources told the Journal that Sprint will likely aim to raise about $3.5 billion at first.
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