Sprint May Declare Bankruptcy Soon

A year ago, I said that Sprint Nextel ($S) was “a financial black hole.” The company had been losing money, is losing money and by all accounts, is going to continue losing money.

Today a Bernstein analyst said that a bankruptcy filing is “a very legitimate risk.”

In late 1999, the stock (which was just Sprint before it merged with Nextel) was trading at $71. Today it’s down to $2.75. This is another good example of the a merger that never should have been.

Posted by on March 19th, 2012 at 12:30 pm

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