Sprint Corp (NYSE:S) said on Wednesday it plans to raise $3.5bln by mortgaging approximately 14% of its wireless airwaves.
Sprint is a US telecommunications holding company that provides wireless services and is a major global Internet carrier.
It hit upon the idea to raise funds from its own infrastructure and could be a precursor to other deals among its rivals.
Sprint shares certainly lifted on the news, but soon enough eased back to end the session unchanged at $6.78.
Story by ProactiveInvestors