Sprint Shares Dip On News Of Lost Subscribers

A Sprint Store in Omaha, Neb. | Photo courtesy of Creative Commons

Shares of Sprint Nextel Corp. slipped in morning trading after the company reported a smaller fourth-quarter loss than expected but additional subscriber losses.

The stock was down 7 cents at $5.70, a decline of about 1.2 percent. Share prices are supported by the company’s pending deal with Tokyo-based SoftBank Corp., which has agreed to buy 70 percent of Sprint for $20 billion.

Funding provided by SoftBank is allowing Sprint to invest heavily in upgrading its wireless network and attract customers with subsidies for smartphones.

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