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Sprint runs towards strength mortgaging its airwaves

Wednesday, October 12, 2016 13:33
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(Before It's News)

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

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