Last week one of the news in wireless arena is Sprint Nextel wrote down all the book values for the Nextel acquisition (about $29.5 billion, see Bloomberg). Put it in perspective, this is one of the largest fiascos of corporate merger&acquisition in recent history. The magnitude is in the league of AOL and Time Warner merger in dot com days.
(Mr. Forsee, left, shakes hands with Nextel founder in 2004. Source: USAtoday)
The following is from a financial advisor’s view about Sprint Nextel stock. The original source can be found here.