Monday, May 01, 2006

Sprint Nextel's wireline business spinoff called "Embarq"

Sprint Nextel has set May 17th as the date for its wireline business spinoff. The new company will be called Embarq. Sprint is exiting the wireline business to concentrate on its wireless efforts. Embarq will trade on the New York Stock Exchange under the "EQ" symbol.

Shareholders of Sprint will receive one share of Embarq for every 20 shares of Sprint .

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